National

Trade pact with Indonesia gets underway

By AAP Newswire

The start of a trade agreement with Indonesia provides export opportunities for Australia's farmers, businesses and investors, Trade Minister Simon Birmingham says.

The Indonesian-Australia Comprehensive Economic Partnership Agreement came into operation from Sunday.

Senator Birmingham said the agreement will provide a boost for Australian farmers and businesses who have been doing it tough during the COVID-19 crisis.

"This is the most comprehensive bilateral trade agreement Indonesia has ever signed, and will give our exporters a competitive edge in what is one of the fastest growing economies in the world," the minster said in a statement.

Among the many benefits under the agreement, Australian grains growers will now be able to export 500,000 tonnes of feed grains including wheat and barley into Indonesia tariff free.

"With one in five jobs trade related, enhancing opportunities for our exporters, with key trading partners such as Indonesia will be crucial to reducing job losses arising from the COVID-19 pandemic and a critical part of our ultimate economic recovery," Senator Birmingham said.