Indonesian Trade Minister Agus Suparmanto expressed his hope that the deal will help Indonesia increase its competitiveness capacity in human resources, industry and service, while boosting access to Australia's goods and service market.
The IA-CEPA could bring significant tariff cuts on commodity exports between the two countries and offer various investment privileges, as Indonesia strives to boost exports and attract foreign investment to help spur its sluggish economic growth.
In 2018, Indonesia was Indonesia’s ninth largest trade partner with total trade turnover reaching US$8.53 billion, of which Indonesia’s exports were $2.8 billion.
