Indonesian, Australian Foreign Ministers Laud IA-CEPA Progress

Jakarta (Antara Bali)- Indonesian Foreign Minister Retno L.P. Marsudi and her Australian counterpart Julie Bishop have lauded the progress achieved in the Indonesia Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

"We warmly welcome the progress that has been achieved within two months since December. Our commitment is to restart the agreement within the context of the IA-CEPA," Minister Marsudi stated after holding a bilateral meeting with Bishop here on Monday.

During the meeting, the two ministers also discussed several crucial issues to strengthen bilateral, regional, and multilateral cooperation.

They discussed bilateral cooperation in the fields of trade, investment, digital economy, science and innovation, research and technology, terrorism, cybersecurity, and people-to-people ties.

Bishop is on a three-day visit to Indonesia to inaugurate an Australian consulate general in Makassar, South Sulawesi, aimed at intensifying economic cooperation, among other things.

"Makassar is the fifth-largest city in Indonesia. This city will become a location for the development of economic cooperation. We want to ensure Indonesian and Australian partnership in business and investment and to expand opportunities for the two countries' economic cooperation," Bishop emphasized.  

The IA-CEPA aims to strengthen and expand trade, investment, and economic cooperation between Australia and Indonesia.

Australia's investment realization in Indonesia in 2015 was ranked 12th, or valued at US$167 million comprising 443 projects.

For the 2010-2015 period, registered Australian investment in Indonesia amounted to US$2.07 billion.

In 2005, Indonesia and Australia had signed a Joint Declaration on Comprehensive Partnership. (WDY)