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INDONESIA, AUSTRALIA SIGN NEW TRADE AGREEMENT.
JAKARTA, March 2 Asia Pulse - Australian Ambassador to Indonesia Bill Farmer welcomed the signing on Friday of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), an embassy media release has said.
"The Agreement opens up markets for Indonesia and Australia - a much-needed boost in the face of the global financial crisis," Farmer said.
The Australian ambassador highlighted the benefits to the Indonesian economy from AANZFTA, including the fact that Australia had committed to remove all its tariffs on products from ASEAN by 2020, opening up new markets for Indonesian exporters.
The agreement also recognizes that some countries will need assistance to seize the opportunities presented by AANZFTA.
For that reason, an economic cooperation component is included to provide technical assistance to developing ASEAN countries.
AANZFTA is the first free trade agreement in which Australia has included an Economic Cooperation chapter.
"In reaching this agreement, Australia has also committed to ...
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Source: HighBeam Research, INDONESIA, AUSTRALIA SIGN NEW TRADE AGREEMENT.