Indonesian Trade Minister Enggartiasto Lukita (R) and his Australian counterpart Simon Birmingham. (Source: Reuters)
Hanoi (VNA) – Indonesia and Australiasigned the Comprehensive Economic Partnership Agreement (IA-CEPA) in Jakarta onMarch 4.
Indonesian Trade Minister Enggartiasto Lukitaand his Australian counterpart Simon Birmingham wrapped up themulti-billion-dollar agreement after nine years of negotiations.
The pact will help improve access for Australianlivestock farmers to the Indonesian market of 260 million people, whileAustralian universities and health providers will also benefit from easierentry into Southeast Asia’s biggest economy.
Meanwhile, greater access to the Australianmarket is expected to spur Indonesia's automotive and textile industries, andboost exports of wood, electronics and medicine.
Bilateral trade reached 11.7 billion USD in2017. Indonesia is now the 13th biggest trading partner of Australia.
Both ministers described the deal as a tool totighten the bilateral relations.
Minister Birmingham said the pact marks a newchapter for cooperation between Australia and Indonesia, bringing the twoAsian-Pacific countries closer together than ever before.
For his part, Minister Lukita said the IA-CEPAcould transform the two economies.
Indonesia and Australia started negotiations onthe IA-CEPA in 2010.-VNA
Indonesian and Australian senior officials have agreed to promote stability in the Indian Ocean and the Pacific during their bilateral meeting on the sideline of the ASEAN-Australia Special Summit in Sydney from March 17-18.
The central banks of Indonesia and Australia have agreed to extend the Bilateral Local Currency Swap Arrangement, which is due to expire in December 2018.
Australian Prime Minister Scott Morrison has stressed that he will maintain his country`s close ties with Indonesia, just as his predecessor, Malcolm Turnbull, did.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Indonesian Trade Minister Enggartiasto Lukita (R) and his Australian counterpart Simon Birmingham. (Source: Reuters) 
