Indonesia trade deal on track to be signed by March

Indo trade deal on track to be signed by March


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The government looks like it's salvaged a key economic partnership after the PM's Israel embassy announcement angered Indonesia.

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The Australia - Indonesia free trade agreement is set to be signed before March.

The Australian Financial Review reports the deal will be sealed at an Australia-Indonesia business conference next month.

Trade Minister Simon Birmingham said he had constructive dialogue with Indonesian ministers and he looked forward to finalising the agreement.

"This a strong deal for both our countries, which will increase the two way flow of trade and investment, creating more opportunities for farmers, businesses and economic development."

"Indonesia is the third largest democracy in the world with a fast growing economy, making the strengthening of our ties both strategically and economically important.

"I’ve continued to have very constructive discussions with a number of Indonesian Ministers in the last few months and am pleased to be finalising arrangements that we hope will achieve a March signing."

Negotiations on the deal were finalised in August. It was hoped it would be signed before Christmas and come into effect early this year.  

But the tariff-reducing trade deal with Indonesia hit a hurdle November when the Muslim nation reacted to Prime Minister Scott Morrison suggestion Australia could move its Israel embassy to Jerusalem.

More to come

The story Indonesia trade deal on track to be signed by March first appeared on Farm Online.

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