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Indonesia enters ASEAN-Australia-New Zealand FTA - Joint Statement

Monday 21 November 2011, 2:06PM

By Tim Groser

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<p>Australia&rsquo;s Trade Minister, Craig Emerson, and New Zealand&rsquo;s Minister of Trade, Tim Groser, today welcomed Indonesia&rsquo;s announcement that it had completed domestic procedures to enable the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) to enter into force for Indonesia. AANZFTA is already in force for Australia, New Zealand and the other nine ASEAN member countries.<br /> <br /> &ldquo;This means that from 10 January 2012 businesses on both sides of the Tasman will be able to capitalise on the FTA&rsquo;s considerable opportunities for mutually advantageous trade with Indonesia &ndash; one of our most important trading partners,&rdquo; said Mr Groser.<br /> <br /> Indonesia is a major emerging economy with the world&rsquo;s fourth largest population. It is the largest economy in South East Asia accounting for over one third of ASEAN&rsquo;s GDP and is expected to be one of the world&rsquo;s top 10 economies by 2030.<br /> <br /> ASEAN&rsquo;s total trade with Australia and New Zealand was just under A$90 billion in 2010.<br /> <br /> &ldquo;AANZFTA is a high-quality, regional trade agreement that provides benefits to all of its parties,&rdquo; said Mr Groser. Both Ministers urged their business communities to pursue actively the opportunities presented under this FTA.<br /> <br /> By 2015, Australian and New Zealand exporters will receive tariff-free treatment in Indonesia on more than 90 per cent of tariff items, compared with only 11 per cent now.<br /> <br /> AANZFTA will also give greater certainty to Australian and New Zealand investors and services suppliers in Indonesia.<br /> <br /> AANZFTA is part of Australia and New Zealand&rsquo;s drive towards growth in trade through achieving more open markets and closer regional economic integration.<br /> <br /> Find out about AANZFTA at <a href="http://www.asean.fta.govt.nz/">www.asean.fta.govt.nz</a>; <a href="http://www.dfat.gov.au/fta/aanzfta/">www.dfat.gov.au/fta/aanzfta/</a>; <a href="http://aanzfta.asean.org/">http://aanzfta.asean.org/</a></p>