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Jakarta Post

The IA-CEPA will be effective soon: Are we ready?

Done deal: Indonesian Trade Minister Enggartiasto Lukita (right) shakes hands with his Australian counterpart Simon Birmingham after the Indonesia-Australia Comprehensive Economic Partnership Agreement in Jakarta on March 4, 2019. The trade deal will come into force on July 5, 2020. (AFP/Adek Berry)
PREMIUM
Yogyakarta   ●   Thu, July 2 2020

The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) is the latest bilateral trade agreement to be ratified by the Indonesian government. Even though a feasibility study was conducted in 2007, the negotiations between the two countries, which started in 2010, took around nine years before they finally concluded in March 2019. Australia ratified the agreement in November 2019 and Indonesia in February 2020. The agreement will be effective as from July 5.

As one of the most comprehensive trade agreements signed by the government, the IA-CEPA is crucial for Indonesia, both in terms of trade and investment, for a number of reasons. First, the agreement offers zero-tariff market access for Indonesian products to the Australian market, particularly for automotive, wood including furniture, textile, electronic and other products. This is expected to enhanc...

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