Strengthening economic ties with Indonesia

On 6 July 2021, Treasurer the Hon Josh Frydenberg MP and Minister for Trade, Tourism and Investment the Hon Dan Tehan MP virtually hosted the inaugural Indonesia-Australia Economic, Trade and Investment Ministers’ meeting with their Indonesian counterparts.

The meeting highlighted ways in which Australia and Indonesia worked together closely and productively over 2020-21 in the context of rapidly responding to COVID-19.

“Today's meeting marks an important development in our economic, trade and investment relationship which is more significant now as we look to strengthen our cooperation in supporting economic recoveries, both in our own countries and across the region,” said Treasurer Frydenberg.

Treasurer Frydenberg said “there are opportunities for deeper collaboration between our two nations on key global and regional challenges and we look forward to supporting Indonesia’s G20 presidency in 2022”.

“Our countries share many interests in the World Trade Organization, APEC and ASEAN and I look forward to a closer partnership to progress our mutual priorities,” said Minister Tehan.

Ministers emphasised the substantial economic relationship between the two countries and committed to growing it even further – particularly as both countries recover from the impact of COVID-19.

Trade is flowing under the Indonesia-Australia Comprehensive Economic Partnership Agreement, with the $40 million Katalis program creating jobs and opportunities in both countries.

Minister Tehan said “Australia supports businesses in both countries, jointly developing and supplying a range of goods and services into regional and global markets, drawing on their respective strengths. The Morrison Government looks forward to seeing this partnership flourish further.”

Indonesia will host the next meeting in 2022.