The next steps are for the legal teams of both parties, who are reviewing and concluding the agreement in order to translate the text into English and Bahasa Indonesia. The translation will be followed by a solemn signing ceremony and the agreement will be made public. Increased access to services and investment markets under the agreement will result in a majority stake of Australian companies in companies in certain sectors in Indonesia. We have experience in consulting on free trade agreements and market access issues, which are particularly relevant to the Indonesian economy, with its rapid growth, and attract a wide range of international investors. During the first foreign visit of new Australian Prime Minister Scott Morrison to Jakarta, he and Jokowi announced an agreement on the IA-CEPA on 31 August 2018.  However, the signing was delayed due to a bilateral dispute over Australia`s recognition of West Jerusalem as israel`s capital, which sparked Indonesian diplomatic protests.   The agreement was finally signed in March 2019 by Lukita and Australian Trade Minister Simon Birmingham, subject to ratification by the Australian Parliament and the Council of Indonesian People`s Representatives.   Department of Foreign Affairs and Trade (DFAT), Indonesia-Australia Comprehensive Economic Partnership Agreement (2018) Australia Government: Department of Foreign Affairs and Trade – Free trade agreements . The IA-CEPA builds on the benefits of the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) agreement, which will be continued in parallel with the IA-CEPA.
Importers and exporters have the opportunity to choose the agreement that is best for them. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) sets the stage for a new era of closer economic relations between Australia and Indonesia and opens up new markets and opportunities for businesses, primary producers, service providers and investors. The AI-CEPA is a comprehensive agreement based on existing multilateral and regional agreements, including the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA). The AI-CEPA came into effect on July 5, 2020. IiA Mapping Project The IIA Mapping Project is a cooperative initiative between UNCTAD and universities around the world to represent the content of II A.