Trade and Investment Minister Andrew Robb is on a visit Jakarta to enhance our trade and investment relationship with Indonesia. Prime Minister Malcolm Turnbull felt it was important that the planned visit proceeds given the government’s commitment to strengthening the relationship with our close neighbour and the largest economy in Southeast Asia. Mr Robb was expected to meet key ministerial counterparts including Indonesia’s new Trade Minister, Thomas Lembong along with ministers for industry and communications. He will also meet prominent members of the Indonesian business community, including CEOs from leading banks.
Mr Robb will use the visit to promote Indonesia Australia Business Week on 17-20 November 2015, during which he will return to Indonesia with more than 200 business people as part of the largest-ever Australian business delegation. “Our relationship with Indonesia is among our most important and this visit provides a chance to meet with key economic figures and to explore new opportunities to grow our trade and investment links,” he said.
Indonesia is Australia’s 12th largest trading partner, with two-way trade valued at $15.7 billion in 2014. The two-way investment relationship was valued at $9.6 billion in 2014. There are more than 200 Australian businesses in Indonesia. Australia, offers a range of high quality services in sectors such as banking and finance, IT and communications, and mining and engineering that Indonesian business needs to grow the economy. There are also opportunities in areas such as tourism and hospitality, education and healthcare.
Indonesia is a major export market for Australian agricultural products, including beef and live cattle, wheat and sugar. Wheat is Australia’s largest single export, valued at $1.3 billion in 2014.
“This is a great example of partnership between Australian and Indonesian business and plays an important role in keeping food prices stable as Indonesian consumer demand grows,” Mr Robb said. Mr Robb will emphasise the importance of predictability in the market to building enduring, long-term business relationships.
“Building business-to-business links is a real priority for us. There are currently around 250 Australian firms operating in Indonesia and we would like to see significant growth of this figure given the potential in a market of 250 million people, which includes a rising middle class,” he said.