WA engages with Indonesia to enhance trade and investment opportunities

WA has set its sights on boosting trade and investment with Indonesia, in a bid to increase its connections with the country.

The State Government plans to enhance its economic links with the country’s rapidly growing economy, through an engagement visit to Bali and Surabaya.

Asian Engagement Minister Peter Tinley has travelled to Indonesia, where he aims to deliver WA’s first international activation of its Asian Engagement Strategy.

As part of the trip, he hopes to identify opportunities related to the Indonesia-Australia Comprehensive Economic Partnership Agreement.

The agreement will allow 99 per cent of Australia’s goods exports to enter Indonesia duty free or with significantly improved preferential arrangements.

Mr Tinley will also use the Indonesia Australia Business Council (IABC) conference this week to demonstrate WA’s commitment to Asia with a keynote speech to Indonesian business and government leaders.

He will highlight the diversity of trade and investment opportunities available in WA including agribusiness, energy and resources.

The State Government said that it’s Asian Engagement Strategy and partnership agreement would enable WA to benefit from Indonesia’s growth.

Indonesia’s economy is forecast to become the world’s fourth largest by 2030.

The nation is WA’s tenth biggest merchandise export market, with the state exporting $2.3 billion of merchandise to Indonesia including petroleum, wheat, iron ore, alumina and live animals its top exports.

WA has also been a popular tourist destination for Indonesian people, with more than 31,000 visitors and 1,000 students visiting the state in 2018.

Indonesia is also the most popular overseas destination for WA tourists, with 330,000 visiting Indonesia in 2017-18.

Mr Tinley said Indonesia is one of WA’s most important trading partners.

“It (is) crucial to the McGowan Government’s plan to diversify the State’s economy and create jobs,” MrTinley said.

He added improved connections created opportunities for WA’s economy.

“WA’s commitment to Asia and Indonesia, combined with the IA-CEPA, offers WA businesses with significant opportunities for growth,” Mr Tinley said.

“Presenting WA’s Asian Engagement Strategy in Indonesian was well-received and it is this type of attention to detail in our relationship that helps to further develop trust and respect – an essential element for growing trade.”

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