Bali-based businesses urged to forge closer commercial ties with Australia
DENPASAR, 28 June 2022 – Bali-based businesses are invited to tap into the expertise and support provided in the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). In a business forum co-hosted by the Australian Consulate-General in Denpasar and Katalis (28/6), local business leaders were presented with opportunities offered by the IA-CEPA Economic Cooperation Program.
Bali is the focus of an ongoing study funded by Katalis to map commercial opportunities for Australian businesses in Indonesia’s nascent medical tourism industry. Commencing in April 2022, the study aims to present a comprehensive analysis on specific areas of immediate needs and commercial wins in the industry, connecting Indonesia with Australia’s well-developed healthcare industry and high-quality vocational education system.
“In addition to bringing improvements in healthcare and tourism that are better aligned with Australian standards, such as what we’re expecting through the Katalis-funded medical tourism scoping study, forging commercial partnerships with Australia in many other sectors will leverage on the benefits of the Indonesia-Australia Comprehensive Economic Partnership Agreement. That’s why we urge businesses in Bali to tap into the opportunities provided in the IA-CEPA Economic Cooperation Program Katalis,” said Anthea Griffin, Australian Consul-General in Denpasar.
Unlike other Australian-funded programs, Katalis is commercially focused and aims to provide greater market access for Indonesian and Australian businesses, support better integrated markets, and develop skills to take advantage of emerging opportunities and pursue post-COVID-19 pandemic recovery.
“Katalis identifies and develops new market opportunities and inspires new business-to-business partnerships that will drive trade and investment between Southeast Asia’s two largest economies. In doing that, we seek commercial partnerships with those who meet our investment criteria. Submissions of activity ideas can be made through our business portal,” said Paul Bartlett, Director of ECP Katalis.
Katalis lists seven criteria for businesses to meet its investment: maximises outcomes of IA-CEPA, includes financial or in-kind co-contribution from the proponent, offers mutual benefits to Indonesia and Australia and aligned with bilateral and/or regional interests, prioritises catalytic outcomes, delivers gender equality, disability, and social inclusion, proves politically feasible and practical, and reflects Indonesia and Australia’s comparative advantages.
For more information, businesses are encouraged to visit iacepa-katalis.org or to get in touch with the program.