Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA)
The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) creates the framework for a new era of closer economic engagement between Australia and Indonesia and opens new markets and opportunities for businesses, primary producers, service providers and investors. IA-CEPA is a comprehensive agreement, building on existing multilateral and regional agreements including the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). Australian and Indonesian Trade Ministers signed the Agreement in March 2019.
Key outcomes and benefits
- Building on AANZFTA, the IA-CEPA will provide better and more certain access to the Indonesian market for Australian exporters. Over 99% of Australian goods exports by value to Indonesia will enter duty free or under significantly improved preferential arrangements. Australia will immediately eliminate all remaining tariffs on Indonesian imports into Australia.
- IA-CEPA contains a set of high-quality, modern rules governing the treatment of services and investment, as well as modern rules on digital trade.
- As part of an overall skills package, Australia and Indonesia have agreed to a reciprocal Skills Exchange, allowing professionals from both countries to gain 6 months experience in the other's market.
- IA-CEPA includes a framework for trade and investment-related cooperation through a jointly-funded work program. The joint work program will support technical assistance and capacity building activities across a range of trade-related areas to strengthen commercial links and help stimulate two-way investment.
The full text of the agreement can be found at: https://dfat.gov.au/trade/agreements/not-yet-in-force/iacepa/iacepa-text/Pages/default.aspx
Key outcomes and further information can be found at: https://dfat.gov.au/trade/agreements/not-yet-in-force/iacepa/outcomes-documents/Pages/default.aspx
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