Australia and Indonesia pledge deeper economic ties

04/07/2012 - Australian and Indonesian leaders say they are looking forward to deeper economic ties after wrapping up bilateral talks in Darwin. Xavier La Canna

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Indonesian President Susilo Bambang Yudhoyono said trade between the two countries had risen 29 per cent from 2010 to 2011, and Australia could become one of Indonesia's top 10 investors, compared with 14th last year.

In the 10 months to April 2012, bilateral trade reached $US9.3 billion ($A9.10 billion), and the two countries had a goal to raise that to $US15 billion by 2015, he said.

"We realise there are still great opportunities for us to further enhance our trade relations also in the field of investment," Dr Yudhoyono said.

"It is my hope that we can achieve these goals."

He said Indonesia had a middle class of about 40 million people, and its economy would grow as the US and European economies picked up.

He called on Australian businesses to take advantage of Indonesia's geography, demographics, stability and competitive labour costs.

"Make Indonesia your hub for production and innovation," he said, speaking at a business luncheon in Darwin.

"Having plans, factories and business centres in Indonesia will open a bigger market for your business," he added.

Dr Yudhoyono encouraged investment in Indonesia's domestic cattle industry, saying it would not endanger the live cattle trade between northern Australia and his country.

"I am sure your investment in the cattle industry in Indonesia will not in any way be at the expense of your cattle exports," Dr Yudhoyono said.

Indonesias's economy is forecast to almost double in size during the next 10 years, while Australia's is projected to grow by 40 per cent.

Australian Prime Minister Julia Gillard said she looked forward to the first round of the Indonesia/Australia Comprehensive Economic Partnership Agreement negotiations, later this year.

"I have appreciated our discussion on how we can work together to strengthen the prosperity of our nations," Gillard told reporters.

She also announced that Australia would increase the number of "work and holiday" visas available to Indonesians from 100 to 1000.

A joint communique from the two leaders said there was potential for mutually beneficial co-operation and trade in the beef and cattle industry.

Source: AAP

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Have your say...

alan | 4/07/2012 11:11 1

Could all be fixed overnight, go back to waht worked prior to Labor changing the laws. Silly silly Julia

dave d | 4/07/2012 17:29 2

What is it with this woman - everywhere she go's, everything she does ,she has to Pay people off by making promises that in one way or has the potential to damage or impact working Australians - first 3000 Malaysians ,now 1000 Indonesians -Is she not aware that Aussies are losing jobs because of her policies ? Reinhart can't bring workers in but Ju-liar can every time she takes a trip or refuses to solve the boat problem - she has to go now - before it's tooo late !!!

dave d | 4/07/2012 22:42 3

It's a pity that Ju-Liar wasn't there to support the AMWU protests in Perth against Reinhardt .Instead she was in Darwin handing out a 1000 work permits to Indonesians - Seems the AMWU were protesting in the wrong city -or is it kill the tall poppy Australian while their trusty mate Ju-liar is stabbing them in the back in Darwin giving Australian jobs away there !!

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