ACCI signs business agreement with Indonesia
Australia has signed a Memorandum of Understanding (MOU) with one of its largest trading partners to open the doors for further business opportunities.
On April 20 , the Australian Chamber of Commerce (ACCI) signed the MOU with the Indonesian Chamber of Commerce (Kadin) in Jakarta at the Indonesia-Australia Trade Ministers’ Meeting
ACCI Chief Executive Peter Anderson says the MOU provides a forum for dialogue with Kadin for the upcoming negotiations between Indonesia and Australian of a Comprehensive Economic Partnership Agreement (IA-CEPA).
Two-way trade in goods and services in 2009-10 was just over $9 billion, making Indonesia Australia’s 13th largest trading partner and 11th largest export market.
Australian investment in Indonesia was worth an estimated $4.7 billion in 2009. Major exports to Indonesia are wheat, live cattle, aluminium and crude petroleum.
The services sector is also important and over $700 million in service related exports were provided by Australian businesses in 2009.
The MOU signing was witnessed by Australia’s Minister for Trade Dr Hon Craig Emerson MP and his Indonesian counterpart Mari Elka Pangestu.
For more information, please read the ACCI media release.