Trade and Investment Framework

General

Australia and Indonesia

UNDERSCORING the commitment of Leaders to a Comprehensive Partnership between Australia and Indonesia;

DESIRING to strengthen further their close and enduring relationship through enhanced trade and investment links;

RECOGNISING that open, transparent and competitive markets are the key drivers of economic efficiency and contribute to wealth creation and consumer welfare;

UNDERLINING their commitment to maintain outward-looking trade and investment policies to bolster and sustain economic growth;

ASPIRING to promote their mutual interest through future further economic partnership and by forging deeper and broader economic linkages through the facilitation and expansion of trade and investment;

MINDFUL OF AND ADHERING TO their respective commitments to the spirit, rights and obligations of existing membership of global, regional and bilateral agreements and organisations.

Have reached the following understandings:

Goals

Both countries will work to:

Action Agenda

Both countries will expand policy dialogue and undertake consultations in the areas of trade and investment facilitation, trade and investment promotion and capacity building.

In taking forward cooperation and dialogue, both Governments will commence work on the issues identified in the Action Agenda at Annex A.

Implementation

The Working Groups under the Australia-Indonesia Ministerial Forum (AIMF) will, as appropriate, implement the provisions of the Trade and Investment Framework (TIF), focusing on the Action Agenda. Officials will, as a priority, establish a timetable for implementation of the Action Agenda.

Working Groups will coordinate and cooperate on issues, as required.

Relevant Working Groups will meet jointly at senior officials level prior to each meeting of the AIMF, or on an ad hoc basis to address issues identified in the Action Agenda as required.

Trade Ministers at their Annual Meeting, and other ministers as appropriate, at the AIMF will:

To the extent possible, Australia and Indonesia will endeavour to coordinate closely the efforts of the AIMF, the Australia Indonesia Partnership for Reconstruction and Development (AIPRD) and Trade Ministers' Meetings in implementing the Trade and Investment Framework.

Consultation

Each country will afford adequate opportunity for consultations to exchange information on issues raised by the other country with respect to measures affecting trade and investment activities between the two countries.

Each country will afford adequate opportunity for consultations on issues related to the possible implications of agreements between either country and a third country or countries that provide for preferential treatment of trade or investment.

Business views

Business will be consulted on the Action Agenda as required and involved, as appropriate, in any policy dialogue.

Review

Ministers will periodically monitor and review the progress on the implementation of the framework.

SIGNED at Vientiane on 29 September, 2005.

FOR THE GOVERNMENT OF AUSTRALIA
MARK VAILE
Deputy Prime Minister
Minister for Trade

FOR THE GOVERNMENT OF THE REPUBLIC OF INDONESIA
MARI ELKA PANGESTU
Minister of Trade

Annex A

Action Agenda

Australia and Indonesia will take forward work on the following priority issues, with a view to reviewing progress at the next meeting of the Australia-Indonesia Ministerial Forum (AIMF) in 2006:

Trade and Investment facilitation

Trade and Investment promotion

Policy Dialogue

Capacity Building

Small and Medium Enterprises (SMEs)