“Australia has been and will always be an important partner for Indonesia. In 2023, their FDI grew by four percent, or the equivalent of US$545.2 million, along with increasing projects involved, namely 200.6 percent," the minister noted in a statement from his office on Tuesday.
Australia is also ranked 10th out of the 168 countries investing in Indonesia.
As part of his working visit to Australia on Monday, Hartarto also met with Indonesian and Australian business actors in a Business Dialogue and Reception.
On the occasion, he conveyed the vision of the Indonesian economy in 2045 as a high-income country in the next two decades.
According to Hartarto, strengthened cross-border economic integration plays an important role in the strategy.
Hence, Indonesia has begun to open accession discussions with the Organization for Economics and Economic Development (OECD) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP-TPP).
CP-TPP will accelerate the agreement with the European Union and is actively involved in the Indo-Pacific Economic Framework for Prosperity (IPEF).
CP-TPP is a trade agreement between 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
"These instruments will provide a comprehensive roadmap to increase quality investment and export-driven growth and will open up cooperation and market access to large economic blocks," the minister affirmed.
On the same occasion, Australian Ambassador to Indonesia Penny Williams, also noted that Indonesia and Australia would continue to intensify bilateral relations in various sectors.
Williams stated that Australia will provide support for Indonesia's membership accession to the OECD and CP-TPP and will collaborate with related institutions as a follow-up to the Indonesia-Cambodia Electric Vehicles memorandum of understanding (MoU).
"This year will mark 75th anniversary of diplomatic relations between Indonesia and Australia, and both countries are committed to improving bilateral relations in various sectors," she remarked.
During the meeting, Hartarto also encouraged stronger collaboration in important sectors, especially in the energy value chain and sustainable agriculture, electric vehicles and technology manufacturing, education, and utilization of maritime resource potential, including the development of Indonesia's new capital (IKN Nusantara) mega project.
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Translator: Bayu Saputra, Resinta Sulistiyandari
Editor: Aditya Eko Sigit Wicaksono
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