Australian miners praise Indonesia trade deal
The signing of an Australia-Indonesia free trade agreement has won praise from the Minerals Council of Australia, with CEO Tania Constable saying that it will deliver expanded trade and business opportunities between the two neighbours.
The Indonesia-Australia Comprehensive Economic Partnership will see Australian goods and services rated as duty free or treated under preferential arrangements, adding $35-billion to the Australian and Indonesian economies.
Australia’s resources and mining services will benefit directly from this agreement, particularly through greater opportunities for Australia’s $90-billion mining equipment, technology and services sector, Constable says.
Under the agreement, Australia’s resources sector will have access to greater trade opportunities – increasing mineral and energy exports and creating more highly-paid, highly-skilled jobs.
The agreement will also enhance people-to-people connections between Indonesia and Australia, with working visas for Indonesians expanded from 1 000 to 4 100 a year. In addition, 200 Indonesians will have access to six-month training opportunities in Australia.
“Stronger people-to-people links will also open the door to greater collaboration between researchers, businesses and communities that will increase the prosperity of Australia and Indonesia.”
In 2017, two-way trade between Australia and Indonesia stood at $16.5-billion, with Indonesia ranked as Australia’s thirteenth largest trading partner.
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