• Accessibility Information
  • EN
  • ID
IA-CEPA ECP Katalis IA-CEPA ECP Katalis
  • About
    • About Katalis
    • About IA-CEPA
  • Activities
    • Current
    • Completed
  • Business Opportunities
  • Newsroom
    • Blog
    • Press Release
    • Events
    • The Katalis Podcast
    • Publications
    • Greetings from the Ministers
  • Vacancies
    • Individual Vacancies
    • Consulting Opportunities
  • Submit Your Idea
Media release katalis en
  • Blog
  • July 6, 2021

Media Release

Indonesia-Australia Economic, Trade and Investment Ministers’ Meeting

Australian Minister for Trade, Tourism and Investment, Hon Dan Tehan MP

Joint media release with:

  • The Hon Josh Frydenberg MP, Treasurer, Government of Australia

07 July 2021

On 6 July 2021, the Australian Treasurer, the Hon. Josh Frydenberg MP, and the Australian Trade, Tourism and Investment Minister the Hon. Dan Tehan MP met virtually with the Indonesian Coordinating Minister for Economic Affairs, H.E Airlangga Hartarto, Indonesian Minister of Finance, H.E. Sri Mulyani Indrawati, Indonesian Minister for Trade, H.E Muhammad Lutfi, Indonesian Minister of National Development Planning, H.E. Suharso Monoarfa, and Indonesian Deputy Minister for Investment Cooperation, Dr Riyatno, for the inaugural Indonesia-Australia Economic, Trade and Investment Ministers’ Meeting.

  1. Ministers determined to enhance efforts to address the unprecedented economic challenges posed by the COVID-19 pandemic. Ministers acknowledged that equitable access to safe and effective vaccines was critical to rebuilding economies across the Indo-Pacific. Ministers agreed uneven vaccine access and new virus variants risked delaying recovery.
  2. Ministers discussed the importance of inclusiveness in COVID-19 policy responses and recovery, including supporting those most affected by COVID-19 like the poor and vulnerable, including youth and women, who are most at risk of falling behind on education, employment, mental health and disposable income.
  3. Ministers recognised high levels of public debt loom large for many countries around the world, particularly for emerging and developing countries. They agreed that early withdrawal of government support and premature fiscal consolidation risked weakening recovery efforts.
  4. Ministers underlined the importance of deepening collaboration in regional and global economic forums and looked forward to Indonesia’s G20 Presidency in 2022. Therefore, Ministers appreciated the Indonesia-Australia G20 Cooperation Kick-off Workshop organised in March 2021. Ministers discussed the important role of quality infrastructure investment in driving a sustainable and inclusive economic recovery. This topic would be further discussed in Indonesia’s G20 Presidency.
  5. Ministers reaffirmed their commitment to an open, rules-based multilateral trading system centred on the World Trade Organization (WTO) and agreed to support reforms that served the interests of all WTO Members. Ministers reaffirmed their commitment to ratifying the Regional Comprehensive Economic Partnership Agreement (RCEP), the world’s largest free trade agreement, and looked forward to its entry into force. Ministers also confirmed their commitment to upgrade the Agreement on the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA).
  6. Ministers agreed to redouble efforts to further strengthen economic ties, recognising that the entry into force of the Indonesia-Australia Comprehensive Economic Partnership Agreement one year ago had enhanced trade and investment opportunities for Australian and Indonesian businesses. Ministers agreed that deepening trade and investment was important to support mutual economic recovery.
  7. Ministers noted the ongoing significant impact of the pandemic on international travel and committed to remaining closely engaged on opportunities to support the important people-to- people links between the two countries and to recommence travel for tourism and education when circumstances permitted.
  8. Ministers acknowledged the value of ongoing dialogue between the two strategic partners in pursuing an open, inclusive and prosperous Indo-Pacific Region. They reaffirmed their commitment to holding the Economic, Trade and Investment Ministers’ Meeting on an annual basis in line with the Indonesia-Australia 2020 Joint Leaders Statement.
  9. Ministers launched the Economic Cooperation Program of the Indonesia-Australia Comprehensive Economic Partnership Agreement, branded as IA-CEPA ECP “Katalis”, or “Katalis”, noting the subsidiary arrangement of the program was signed on June 25th 2021. The ministers urge all related parties to participate in the program and contribute to the inclusive, sustainable and green economic growth, two-way trade, investment, and sustainable development of both countries.

Source: Link

Media enquiries

  • Minister’s office: James Bolt 02 6277 7420 | minister.tehan-media@dfat.gov.au
  • DFAT Media Liaison: (02) 6261 1555

Related Posts:

  • Indonesia TVET Blog
    Why Australian TVET providers need to focus on Indonesia November 7, 2022
  • The Impact of IA CEPA on Businesses in Indonesia and Australia
    The Impact of IA-CEPA on Businesses in Indonesia and Australia August 2, 2022
  • Web Scholarship 2022
    Australia and Indonesia International Trade Scholarship April 27, 2022
  • Early Impact
    Early impact: Katalis supports women in leadership in traded industries April 25, 2022
IA-CEPA ECP Katalis

Our goal is to maximise IA-CEPA benefits for Indonesia and Australia: improved market access, increased two-way trade and investment, and inclusive economic growth in Indonesia.

Useful Links

  • Contact Us
  • FAQ
  • GEDSI Toolkit
  • Privacy Policy
  • Cookie Policy
  • Accessibility Statement
  • Sitemap

Subscribe to our newsletter

Loading
© Copyright IA-CEPA ECP Katalis
The website uses cookies to ensure you get the best experience on our website. Read more
Accept all
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT