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Australian Chamber welcomes Indonesian trade announcement and regional visits by new Prime Minister and Trade Minister
31 Aug 2018 | Archive
Australia’s largest and most representative business lobby group, the Australian Chamber of Commerce and Industry welcomes the Morrison Government’s announcement of a substantial conclusion to the Indonesia Australia Comprehensive Economic Partnership Agreement (IA-CEPA).
“The announcement of substantial conclusion on our economic partnership agreement with Indonesia is a strong and timely recognition of the importance of our nearest neighbours to Australian business and jobs,” Australian Chamber CEO, James Pearson, said today.
“We hope that today’s announcement, and the prospect of a formal signing in the near future, will boost trade and investment between our two nations, and build on the fact that Indonesia and Australia are already partners, along with the rest of ASEAN in our long-standing trade agreement, AANZFTA.
“We also welcome the visit by new Trade and Tourism Minister, Simon Birmingham to Singapore, to participate in Regional Comprehensive and Economic Partnership (RECP) meetings.
“The announcement, and the visits to Indonesia and Singapore, remind us that Australia’s prosperity depends on access to overseas markets and deep engagement with our international trading and investment partners.
“The competition for global markets is getting more intense, the rules by which we do business overseas are under challenge, and the threat of trade wars loom.
“Australia is already suffering from a decline in our ranking in international competitiveness and international trade, which means less investment, fewer jobs and missed opportunities for Australian businesses.
“Unless we make sure that Australian business can remain internationally competitive, by reforming our domestic economic policies to encourage business to invest, create wealth and provide jobs, we will be left behind.
“We encourage the Morrison government to implement policies to improve our competitiveness, to help make Australia the best place in the world to do business, so Australian’s can have the jobs, opportunities and living standards to which they aspire.”
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