Australia push economic ties, trade deal soon

Prime Minister Scott Morrison with Indonesian President Joko Widodo in Jakarta. AAPIMAGE

Prime Minister Scott Morrison with Indonesian President Joko Widodo in Jakarta. AAPIMAGE

"The economic relationship is where we're underdone", Prime Minister Scott Morrison told reporters in Jakarta before the meeting with Indonesian President Joko Widodo later yesterday.

"It is much more than a trade deal we are talking about today.

Universities Australia Chief Executive Catriona Jackson said greater access for Australian universities to operate in Indonesia would deepen ties between the two countries.

Australia was the 14th-biggest buyer of Indonesian exports in 2017, while Indonesia is Australia's 13th-largest trading partner, with Australia putting two-way trade at A$16.4 billion (US$12 billion) in 2016 to 2017.

Sofyan Wanandi, a senior official in the office of Indonesian Vice President Jusuf Kalla, told Fairfax Media the finalisation of the free trade agreement was "very good news for both countries".

Mr Morrison and Mr Joko were due to meet at the Presidential Palace in Bogor on Friday and announce the formal end of negotiations on the trade deal.

The Asian neighbours have been in prolonged trade talks since early in the decade, with diplomatic tensions between the two sides occasionally stalling the negotiations.

It’s Time: 6 Things to Watch When Texas A&M Returns to Action
Nothing can prepare you to the Midnight Yell at @TAMU I've been there tonight before their first game this season. Williams became the first true freshman in program history to surpass 1,000 rushing yards in 2016.

Indonesia exports to Australia comprise metal products, chemistry products, textile and footwear and vehicles, according to the Indonesian Industry Ministry.

On the occasion, Birmingham also signed Memorandums of Understanding (MoUs) with Indonesian Transportation Minister Budi Karya Sumadi and Chief of the Indonesian Creative Economic Board Triawan Munaf.

The agreement will free up Indonesia's university sector for Australian investors, allowing up to 67 percent foreign ownership.

Mr Morrison will also plant a tree at the palace.

Birmingham listed frozen meats, live cattle, feed grains, dairy, citrus and rolled steel as examples of Australian products destined for favourable treatment under the deal.

On security, President Widodo noted that Indonesia and Australia agreed to boost cooperation in the battle against extremism and strengthen their collaboration on fighting cyber crimes.

Indonesia is the first country visited by Morrison since he assumed the post of Australian prime minister last Friday (August 24), after Turnbull resigned from the parliament.

Recommended News

  • United States military to cancel over $300 million in aid to Pakistan

    Defense chief Jim Mattis told reporters last week that militants will be a "primary part of their discussion". It also underscored that Islamabad has yet to deliver the kind of change sought by Washington .
    CBOE Allegedly Waiting on CFTC Approval to Launch Ethereum (ETH) Futures

    CBOE Allegedly Waiting on CFTC Approval to Launch Ethereum (ETH) Futures

    It is nearly impossible to predict the evolution of Ether's price after a giant like Cboe will launch a related futures option. If you remember, this is the operator that based its Bitcoin futures on the exchange which is run by the Winklevoss brothers.
    Alabama vs. Louisville score

    Alabama vs. Louisville score

    Tagovailoa called his own number with 4:04 left in the first quarter on a 9-yard touchdown run to take a two-score lead. Tagovailoa was sacked on the game's second play, but pretty much had his way against the Louisville defense from there.
  • Amazon shares blow past $2K as market cap nears $1T

    Amazon shares blow past $2K as market cap nears $1T

    With 487,741,189 shares outstanding as of July 18, a stock price of $2,050.27 would give Amazon a market cap of $1 trillion. At that new price target, Amazon would be valued at around $1.2 trillion.
    Motorola introduces two Android One devices: Motorola One and One Power

    Motorola introduces two Android One devices: Motorola One and One Power

    Motorola interestingly isn't revealing the pricing of the One Power, but the India-only approach is certainly quite fascinating. Called Motorola One and Motorola One Power , both smartphones come with a notched display and dual-camera setups at the back.
    Read Pep Guardiola's glowing tribute to Rafa Benitez - and Newcastle's 'loyal' fans

    Read Pep Guardiola's glowing tribute to Rafa Benitez - and Newcastle's 'loyal' fans

    Newcastle undermined their bid to stifle City during the opening stages by carelessly coughing up possession in unsafe areas. Aguero, who scored eight goals in City's last two home games against Newcastle , was held silent on Saturday.
  • No joy for Gerrard as Celtic reign in Paradise

    No joy for Gerrard as Celtic reign in Paradise

    Rangers striker Alfredo Morelos has signed a new contract with the club on the eve of their derby clash with Celtic . It was the first time former Liverpool boss Rodgers has come up against Steven Gerrard in the dugout.
    Trump, NAFTA and Global Trade | US & Canada

    Trump, NAFTA and Global Trade | US & Canada

    Fox News Senior Capitol Hill Producer Chad Pergram with the latest on the Trump administration's trade negotiations with Canada. Trump then admitted to "scaring the Canadians into submission by repeatedly threatening to impose tariffs".
    Serena Williams: ‘Every Human’ Should Be ‘Completely Grateful’ for Colin Kaepernick

    Serena Williams: ‘Every Human’ Should Be ‘Completely Grateful’ for Colin Kaepernick

    We are hoping for a huge win for Reid and Kaepernick, which would expose racism in the NFL . He's now embroiled in a lawsuit against National Football League owners for collusion.
  • Lana Del Rey Cancels Concert in Israel - Read Her Statement

    Lana Del Rey Cancels Concert in Israel - Read Her Statement

    Meteor Festival issued a statement on its website shortly after, accusing the singer of wanting to "score some press attention". A Palestinian BDS movement Twitter account sent out a message of appreciation for Del Rey's decision.
    Raikkonen takes pole, Vettel 2nd, to boost Ferrari at Monza

    Raikkonen takes pole, Vettel 2nd, to boost Ferrari at Monza

    The gap between them is now only 17 points, and Wolff is alarmed over the fact that they might not have enough margin. Vettel won his first ever F1 race at the Autodromo di Monza a decade ago, an unbelievable feat in his Toro Rosso.
    Chelsea Manning cleared to visit New Zealand

    Chelsea Manning cleared to visit New Zealand

    Woodhouse said if Manning's application had come across his desk as immigration minister he would have declined it. The group called on Manning's supporters to lobby new Immigration Minister David Coleman to grant her entry.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.