Building on the ASEAN-Australia-New Zealand Free Trade Agreement which entered into force in January 2010, the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) officially came into force on July 5, 2020.
Key outcomes for the elimination of customs duties:
- Australia will immediately eliminate all remaining tariffs on Indonesian imports into Australia.
- Over 99 percent of Australian originating goods exports to Indonesia will enter duty-free or under significantly improved or preferential arrangements.
The agreement also contains some key outcomes for Non-Tariff Measures, Trade-in Service, Trade Facilitation, Investment Protection, Skills Development Package.
Source: Australia Department of Foreign Affairs and Trade
To read full text and associated documents of the Agreement, click here.