Indonesia, Australia boost cooperation for economic recovery

Indonesia, Australia boost cooperation for economic recovery

Screenshot of the Katalis discussion themed “Supporting Economic Recovery Through Partnerships” held virtually on Tuesday (September 21, 2021). (ANTARA/HO-Katalis)

Katalis is expected to expand market access, offer better market integration, and higher capabilities, especially in the food manufacturing and service sectors
Jakarta (ANTARA) - Indonesia and Australia have intensified cooperation for economic recovery through Katalis, a government-backed business development program under the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

"Katalis is expected to expand market access, offer better market integration, and higher capabilities, especially in the food manufacturing and service sectors," National Development Planning Minister Suharso Monoarfa noted in a statement received here Tuesday.

Minister Monoarfa spoke of his side having always encouraged all partaking parties, including the government, the private sector, and academia, to make the most of the valuable opportunities provided by Katalis in the form of trusted advice, local networks, market insights, and capacity building for stakeholders.

“Indonesia welcomes this milestone for a promising future for deeper economic partnership between Indonesia and Australia. This is also a great platform for both countries to pursue economic growth and prosperity," the minister affirmed.

Since having come into force on July 5, 2020, the IA-CEPA has continued to encourage two-way opportunities for trade in goods and services, investment, and capacity building for human resources, especially during this crucial period of economic recovery.

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To support this cooperation, on July 6, the governments of Indonesia and Australia had formalized Katalis as a program that connects the two countries' business world and governments. Katalis plays a vital role in promoting bilateral collaboration, including integrated value chains, to push exports to third countries.

According to Australian Minister for Trade, Tourism and Investment Dan Tehan, Katalis is the first program of its kind in the area of a bilateral free trade agreement, and it shows Australia's commitment to maximizing the bilateral agreement. Katalis will support deeper partnerships to increase bilateral trade investment.

Katalis Director Paul Bartlett remarked that the program works closely with Indonesian and Australian business communities to catalyze new bilateral commercial partnerships, address trade regulations, and invest in upskilling the workforce and companies.

Now, the challenge is how to build resilience and facilitate business-to-business partnerships that will restore and transcend the bilateral trade and investment relationship that existed before the COVID-19 pandemic, he noted.

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