New Australian Prime Minister Scott Morrison will visit Indonesia on August 30 with the goal of concluding the free trade deal between the two countries which is on the verge of further delay due to the leadership turmoil in Australia last week.
New Australian Prime Minister Scott Morrison. (Source: VNA)
Sydney (VNA) – New Australian Prime Minister Scott Morrisonwill visit Indonesia on August 30 with the goal of concluding the free tradedeal between the two countries which is on the verge of further delay due tothe leadership turmoil in Australia last week.
It will be Morrison’s first trip overseas as Prime Minister aftertaking office several days ago.
The trade agreement is expected to be signed in September or Octoberthis year after officials from the two sides resolved a deadlock during recentnegotiations in Melbourne.
During the visit, Morrison is expected to announce the two countrieshave reached an in-principle agreement on the FTA and that the bilateralrelations have been taken to a new height.
Earlier, former Australia Prime Minister Malcolm Turnbull was scheduledto make the trip this week but the plan was abandoned following the leadershipspill, forcing him to resign. It has put the signing of the trade deal at riskof being further postponed.
The prospect of a further delay would cause anxiety for the Governmentof Indonesia as the country’s rupiah has been falling and the country’sgovernment is hoping the FTA will help boost the currency in internationalmarkets.
Meanwhile, Australia hopes the deal will bolster the strategicrelationship between Canberra and Jakarta, while also boosting economic ties.
While Australia has been pushing for a "high quality"FTA, its officials have been forced to narrow the ambition of the deal becauseof strong protectionist forces in Indonesia.
Before the political turmoil, Turnbull had been planning to travelto Malaysia, Thailand and Vietnam, where he was due to meet top leaders andofficials. He was also scheduled to finish his tour by attending the PacificIslands Forum in Nauru next month. It now appears that those legs of the triphave been cancelled and it is not clear who will represent Australia at thatmeeting. –VNA
Indonesia is looking to seize opportunities from the EU-China trade war to increase its exports and foreign exchange, while replacing imported goods by locally-manufactured counterparts.
Indonesia’s economy expanded 5.27 percent in the second quarter of 2018, the highest growth rate since the fourth quarter of 2013, thanks to growing domestic consumption.
The central banks of Indonesia and Australia have agreed to extend the Bilateral Local Currency Swap Arrangement, which is due to expire in December 2018.
Indonesian Ambassador to Vietnam Ibnu Hadi has highlighted the spirit of friendship between his country and Vietnam in an article on the 73rd anniversary of Indonesia’s Independence Day (August 17, 1945-2018).
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
New Australian Prime Minister Scott Morrison. (Source: VNA)
