Australia has ratified the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). Further information relating to IA-CEPA will be placed on the DFAT website as soon as possible to allow businesses to plan ahead.
IA-CEPA creates a framework for Australia and Indonesia to unlock the vast potential of the bilateral economic partnership, fostering economic cooperation between businesses, communities and individuals.
Indonesia is a growing market for Australian goods and services exporters. In 2018-19, total two-way trade in goods and services with Indonesia was worth A$17.8 billion, making Indonesia our 13th largest trading partner. IA-CEPA will provide Australian and Indonesian businesses an opportunity to expand and diversify this economic partnership.
As one of the fastest growing economies in the Indo-Pacific, Indonesia presents a significant opportunity for Australian businesses. By some estimates, Indonesia will be the world's fifth-largest economy by 2030, and IA-CEPA ensures that Australia is well-placed to deepen economic cooperation and share in Indonesia's growth.
As strategic partners and the two largest economies in Southeast Asia, the agreement also complements and supports our shared interest in fostering a secure and prosperous region.
JSCOT IA-CEPA inquiry website
For more information on IA-CEPA, and on Australia's relationship with Indonesia, see the following links: