Indonesia and Australia on Monday signed an economic partnership agreement aimed...
JAKARTA - Indonesia and Australia on Monday signed an economic partnership agreement aimed at stepping up trade and investment between them in areas ranging from cattle to education and cars to wheat.
In Jakarta, Indonesian Trade Minister Enggartiasto Lukita and Australian Trade Minister Simon Birmingham signed the deal following completion of talks that started early in the decade and occasionally were stalled by diplomatic tension. Australia’s recognition of West Jerusalem as Israel’s capital strained relations with Indonesia, which is the world’s biggest Muslim-majority country and supports a two-state solution to the Israel-Palestinian dispute.
The CEPA covers not just free trade in goods, but also services such as opening up investment in Indonesia’s university sector to allow up to 67 percent foreign ownership once a so-called negative investment list - showing what areas foreigners cannot enter - is revised.
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