Jokowi Says The IA-CEPA Partnership Increase Trade Up To 90 Percent

President Jokowi held a meeting with Australian Opposition Chairman Peter Dutton, at the Admiralty House, Sydney, Tuesday (4/7/2023). Antara/HO-Press Bureau of the Presidential Secretariat

JAKARTA - President Joko Widodo said the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) had increased Indonesia's trade value to Australia by up to 90 percent.

This was conveyed by President Jokowi during a meeting with Australian Opposition Chairman Peter Dutton, at the Admiralty House, Sydney, Tuesday, July 4.

"Since the implementation of Indonesia-Australia CEPA 3 years ago, the relations between the two countries are currently very strong. Trade has increased by 90 percent, investment has also increased by 50 percent, and various other advances in cooperation," said President Jokowi, quoted by ANTARA from an official statement from the Press Bureau of the Presidential Secretariat.

During the meeting, the President said that Australia was a friend and strategic partner of Indonesia and ASEAN.

Therefore, President Jokowi also hopes for the support of Opposition Chair Peter Dutton so that economic cooperation between the two countries is more substantive and more strategic in the future, including cooperation in developing the electric vehicle battery industry (EV battery).

The President also hopes that there will be increased cooperation between Indonesia and Australia in the Pacific, including through trilateral cooperation.

Based on the records of the Coordinating Ministry for Economic Affairs, Australia has become Indonesia's strategic partner.

In 2022, Australia's investment in Indonesia will account for around 524 million US dollars which plays an important role in creating industry and employment.

Then, the value of Indonesia-Australia trade thanks to the IA-CEPA partnership rose 76.84 percent to 12.6 billion US dollars compared to the previous year's 7.15 billion US dollars.