Government, House agree on IA-CEPA bill as law

Government, House agree on IA-CEPA bill as law

House Speaker Puan Maharani (second right) flanked by DPR vice chairman Aziz Syamsuddin (second right) and Muhaimin Iskandar (left) received a government report from Trade Minister Agus Suparmanto (right) on IA-CEPA at a recent plenary meeting . DPR endorsed IA-CEPA. ANTARA FOTO/Puspa Perwitasari/ama.

With the approval of the bill, the DPR along with the government have implemented the mandate of the constitution as their dedication to the public, nation and state to realize the ideals of the country's independence to promote the economic welfare
Jakarta (ANTARA) - The Indonesian government and the House of Representatives (DPR) have agreed on the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) becoming a law. With the approval of the bill, it will make it legal for the two countries to implement comprehensive economic cooperation, Trade Minister Agus Suparmanto said in a statement released Friday.

"With the approval of the bill, the DPR, along with the government, have implemented the mandate of the Constitution as their dedication to the public, nation and state to realize the ideals of the country's independence to promote the economic welfare of the entire Indonesian nation," he said.

The IA-CEPA is one of the efforts to increase the export of goods and services, open foreign investment inflows, and develop human resources amidst the global economic downturn and the increasing trade barriers in each country, he said.

The Indonesian trade minister and the Australian trade, tourism and investment minister signed the IA-CEPA in Jakarta on March 4, 2019.

The bill comprises two articles that the DPR and the government have agreed, with several technical changes in its general elucidation.

"The approval of IA-CEPA will be part of the process to transform Indonesia into a developed economy and promote the people's welfare," he said.

The government and the House Commission VI have conducted first-level discussions where they listened to the final mini view of each faction and the government's views and signed the text of the bill on the endorsement of IA-CEPA during a working meeting Tuesday.

The DPR will later hold second-level discussions and decide the bill already agreed upon into law, at a plenary meeting. 

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