5 April, 2019

Indonesia / Australia: signing a free trade agreement

SUPLY CHAIN

Last March in Jakarta, the Ministers of Trade of Indonesia and Australia signed a Bilateral Economic and Trade Partnership Agreement (IA-CEPA).

In the long run, the almost all tariff barriers will be removed between the two partners: gradually on the Indonesian side, but upon the entry into force of the agreement on the Australian side, with a total abolition of customs duties on imports on products from Indonesia.

The agreement also provides for removal of non-tariff barriersautomotive and textile industry for Indonesia and electronic and medicinal products in Australia.

Other chapters cover e-commerce, services, investment and the movement of individuals.

To enter into force, probablyearly 2020The text must now follow the formal ratification procedure in each country.

Source:

Source(s): www.aseanbriefing.com | dfat.gov.au

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