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Indonesia to sign FTA with Australia

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/05/2016 (14:49)
According to media reports, Indonesia aims to sign a free trade agreement (FTA) with Australia in 2017 as well as a comprehensive economic partnership agreement (CEPA) with the European Union in 2018.

The Minister of Trade of Indonesia, Thomas Trikasih Lembong, said that the CEPA would be advantageous in terms of boosting non-oil and gas exports. According to Lembong, Indonesia has neglected downstream industry owing to its well-functioning commodity sector while its rivals attracted investments and enabled free trade agreements. Now, they are looking to improve the country’s performance in service sectors and lifestyle products such as clothing, furniture and jewelry. In 2015, the value of Indonesian jewelry exports reached $5 billion.
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