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Indonesia-Australia CEPA conclusion postponed to March
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Trade Minister Enggartiasto Lukita (right) and Australian Minister for Trade, Tourism and Investment Steven Ciobo (center) speak at a press conference during the latter's visit to discuss the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) in Jakarta on Sept. 20.
(JP/Stefani Ribka)
I
ndonesia and Australia failed to conclude their Comprehensive Economic Partnership Agreement (IA-CEPA) this month as initially scheduled due to several unsettled issues such as investment in the education sector.
They agreed to conclude the IA-CEPA negotiation in March, 2018.
“The text of the agreement is 94 to 95 percent complete but because of some unsettled issues we need to prolong our negotiation,” Trade Minister Enggartiasto Lukita told a press conference on Wednesday.
“Delegates from both countries will meet again in January and we don’t want this to be unfinished by March,” he said.
Read also: RI, Oz aim to settle crucial points in CEPA 9th round
Previously, the Australia government expressed interest in increasing its investment in the Indonesian education sector. The country expects easier terms of investment.
In response, Indonesia chief negotiator Deddy Saleh said Indonesia had considered allowing the investors to own majority shares in education businesses.
In the negotiations, Indonesian delegates focused on gaining added benefits from investment from Australia, because, with its population of 24.3 million, Australia is not a major export destination for Indonesian. (bbn)
