Tuesday, 30 January 2024 03:54

Indonesia-Australia Push for Mutual Benefit in Trade and Investment

Deputy Foreign Minister Pahala Nugraha Mansury advocates for enhancing mutually beneficial trade and investment cooperation with Australia. This stance was articulated during his meeting with Australia's Deputy Minister of Trade and Deputy Minister of Manufacturing, Tim Ayres, in Jakarta on January 26. Deputy Foreign Minister emphasizes the need for a more balanced trade balance, urging both countries to optimize the implementation of the IA-CEPA, particularly by addressing non-tariff barriers for Indonesian commodities such as fisheries and fruits through mutual acceptance cooperation. Moreover, he welcomes the escalating cooperation between both nations in critical minerals and rapidly advancing energy sectors. Deputy Foreign Minister encourages the utilization of complementary mineral resources to support energy transition and achieve net zero emissions, ensuring Indonesia's fair share.


Efforts will include the development of electric vehicle ecosystems, facilitated by a Memorandum of Understanding (MoU) on Establishing a Bilateral Mechanism to Advance Electric Vehicle Collaboration signed by Indonesia and Australia last November. "I urge the expeditious formulation of concrete cooperation plans to implement this MoU," stated the Deputy Foreign Minister, as quoted from the Ministry of Foreign Affairs press release on Friday, January 26, 2024. Ayres' two-day visit to Jakarta aims to strengthen economic cooperation between the two countries and to promote Australia's Southeast Asia Economic Strategy to 2040, launched late last year. Through this strategy, Australia seeks to bolster economic engagement in the region, focusing on key sectors such as food and agriculture, green energy, infrastructure, digital economy, healthcare, and education. Deputy Foreign Minister advocates for aligning this strategy with existing ASEAN mechanisms, particularly in the fields of digital economy and energy transition.

Source: https://www.idxchannel.com/economics/ri-australia-dorong-peningkatan-perdagangan-dan-investasi-yang-saling-menguntungkan

 

 

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