Indonesia Australia Business Week

This week I will lead a major trade mission to Indonesia for Indonesia-Australia Business Week (IABW).

IABW will help create more export opportunities for Australian businesses by focusing on industry sectors where Australian expertise is well matched to commercial potential in Indonesia.

The 120-strong Australian business delegation will participate in a program of 57 events across five cities including Jakarta, Surabaya, Bali and Lombok.

The program will highlight opportunities in vocational education and training, tourism, financial services and technology, water and sustainable urban design and agribusiness supply chains.

With a population of more than 255 million and an economy approaching US$1 trillion, there is enormous scope to expand our trade with Indonesia – our 13th largest trading partner.

Tens of millions of new Indonesian households are forecast to join the middle class over the next five years, presenting significant opportunities for Australian exporters to supply the growing needs of Indonesian consumers with Australian goods and services.

IABW also presents an opportunity to progress the Turnbull Government's top trade priority, the Indonesia Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

Indonesian Trade Minister Lukita and I will meet again this week as we work to finalise negotiations by the end of the year.

Momentum is building for an ambitious IA-CEPA following the recent visit to Australia by President Widodo. During the visit it was announced Indonesia would cut sugar tariffs for Australian exports – a big win for our cane growers. This followed Indonesia's decision to expand live cattle import requirements that will allow Australia to export more live cattle – another great early IA-CEPA outcome.

Concluding IA-CEPA will build on the trifecta of free trade agreements the Coalition delivered with China, Japan and Korea and the major upgrade of our Singapore FTA.