CEPA to herald new era of Indonesia-Australia economic cooperation

CEPA to herald new era of Indonesia-Australia economic cooperation

Indonesian Ambassador to Australia Kristiarto Legowo addressed the Indonesia-Australia Business Summit (IABS) 2019. ANTARA/HO- Media team KJRI Sydney.

The agreement covers not only trade and investment but also capacity building through education and training and close contact between the people of the two countries.
Jakarta (ANTARA) - The Indonesia-Australia Comprehensive Economic Partnership Agreement (CEPA) will lay down the foundation for a novel era of progressively closer and mutually beneficial economic cooperation between both neighboring nations, Indonesian Ambassador to Australia Kristiarto Legowo stated.

"The agreement covers not only trade and investment but also capacity building through education and training and close contact between people of the two countries," Legowo noted in a written statement released on Monday.

Both nations had inked the IA-CEPA in March 2019. The parliaments of both nations are in the process of ratifying the agreement before it is put into force.

The ambassador highlighted the need for the two countries to take anticipatory steps that encompass tapping opportunities for business collaboration and novel partnerships without the need to adopt a wait-and-watch approach for the ratification of the agreement.

As part of the anticipatory steps, the Indonesian Consulate General in Sydney held the Indonesia-Australia Business Summit (IABS) 2019 that had brought together more than 200 delegates from both nations some time ago, he stated.

The summit featured panelists from Indonesia and Australia, with expertise in the fields of automotive, vocational education and training, and infrastructure in the development of the tourism industry and special economic zone.

The other acme of the summit was a mini expo that showcased a plethora of Indonesian products that have currently penetrated the Australian market.

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