BOGOR, INDONESIA – Australia’s new Prime Minister Scott Morrison and Indonesian President Joko Widodo welcomed on Friday (Aug 31) the conclusion of all the main points of an economic partnership deal six years in the making. Both said they were committed to a strategic partnership that would ensure smoother trade flows and closer people-to-people relations, defying a trend of rising protectionism in some parts of the world. “It is our economic relationship where we’ve committed today to take another big step to ensure that Australia and Indonesia do the heavy lifting that is needed to realise the real economic opportunity that exists,” Mr Morrison said on Friday in a joint press conference with Mr Joko at the Bogor presidential palace, in West Java south of Jakarta. Both countries have been in talks since 2012 to reach an economic partnership deal called the Indonesia-Australia Comprehensive Economic Partnership Agreement (Cepa), which would eliminate tariffs on goods and services as well as relaxed rules on investments in various sectors. Quotas, however, would be applied. The agreement, expected to be signed by the end of this year would, among other things, free up Indonesia’s university sector for Australian investors and relax import tariffs on… Read full this story
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