After nearly 10 years of negotiations, countdown has today begun on the entry-into-force of the Australia-Indonesia Comprehensive Economic Partnership Agreement (IA-CEPA).
The Indonesian Government today notified the Australian Government that it had ratified the treaty. This notification initiates a 60-day countdown, after which time the treaty will enter into force. This means that 60 days from today, nearly all Australian agricultural commodities will be able to enter Indonesia duty-free and quota-free.
“This is an historic day for Australian agriculture,” NFF President Fiona Simson said.
“The entry-into-force of this Agreement will provide Australian farmers with exceptional access to one of the most important markets in the world.
Under IA-CEPA, a diverse range of Australian farm produce will be granted even wider access to the burgeoning south-east Asian economy including cattle, beef, sheepmeat, dairy, sugar, fruit, vegetables and honey.
Importantly, the agreement will significantly grow the quota for Australian cattle to be exported with duty free access for 575,000 head of live male cattle per year, growing at 4% per year to 700,000.
“The Australian Government, and Trade Minister Birmingham in particular, should be commended for their achievement,” Ms Simson said.
“Today’s news provides some much-needed perspective for Australia’s farmers, encouraging us to look beyond the present hardships of drought, bushfires and coronavirus and to the bright future ahead.”
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