Indonesia-Australia economic partnership agreement
Indonesia-Australia economic partnership | Malcolm Turnbull and President Joko Widodo now want to conclude a deal by the end of this year.
Indonesia is projected to be one of the world’s top 10 middle-class consumer markets by 2020 and the world’s 4th biggest economy by mid-century.
Just as trade with China has been a potent force for Australian prosperity over the last decade, so trade with Indonesia can add a new dimension to the sources of Australia’s growth in coming decades.
Trade and investment flows between Australia and Indonesia are markedly underdeveloped, Indonesia economy growth is the biggest in Southeast Asia and , yet only Australia’s 12th largest trading partner,
There are strong government, business, educational and personal links, and more than 1.2 million Australians visit Indonesia every year.
An FTA it can play a valuable role in stimulating trade and developing the economic relationship, An Indonesia-Australia economic partnership should be backed by political leaders and those in business, academia and the community who support free trade and economic reform.
For such an agreement will not only improve living standards in both countries.
It also comes as the world faces a tumultuous turning point over the future of trade and globalisation.