Jakarta (Indonesia Window) - Although the Indonesia and Australia Comprehensive Economic Partnership Agreement (IA-CEPA) which was signed in March 2019 and is currently still in the process of ratification by the two countries’ parliaments, efforts to explore opportunities for business collaboration and new partnerships have been undertaken by both parties.

Among the efforts is holding the 2019 Indonesia-Australia Business Summit (IABS)  by the Indonesian Embassy in Canberra in cooperation with all the Indonesian representatives in Australia, including the Indonesian Consulate General in Sydney, a statement from the consulate general received here on Monday.

The summit was held in Sydney on Thursday (19/9) under the theme "IA-CEPA: Capitalising Partnership, Gaining Mutual Benefits" or IA-CEPA: Enlarging Partnerships to Reach Shared Benefits.

On the occasion, the Head of the Indonesian Investment Coordinating Board (BKPM), Thomas Lembong, delivered a keynote address via video message in addition to remarks by senior officials from the Indonesian Ministry of Research and Technology and Higher Education.

The IABS 2019 was attended by more than 200 members of the Indonesian and Australian delegations, and was opened jointly by the Indonesian Ambassador to Australia, Kristiarto Legowo, and the Governor of New South Wales (NSW), Margaret Beazley.

The Indonesian Consul General in Sydney, Heru Hartanto Subolo, and the heads of Indonesian representatives throughout Australia also attended the event.

Ambassador Kristiarto Legowo in his opening remarks underscored the importance of the partnership between Indonesia and Australia especially at this time when the two countries make important achievements on the bilateral relations.

"The signing of the IA-CEPA will be the basis for a new era of increasingly close and mutually beneficial economic cooperation," Ambassador Legowo said.

According to the Ambassador, not only does the agreement cover trade and investment, but also efforts to increase capacity through education and training as well as strengthening people to people contacts," Ambassador Legowo continued.

Meanwhile, the Governor of NSW in her remarks stated that as a close neighbor, Indonesia is an important partner and friend of Australia.

"Partnerships between the two countries have existed since the 17th century when Makassar seamen conducted trade relations with the Aboriginal people in northern Australia," Governor Beazley explained.

The IABS 2019 business meeting brought together experts from Indonesia and Australia in the fields of automotive, vocational education and training, and infrastructure in the development of the tourism industry and special economic zones.

The business meeting also featured a mini exhibition of Indonesian products that have now entered the Australian market.

Jakarta’s provincial governments, Makassar City, and the Sorong Special Economic Zone and the Batam Management Agency were also present to explain the business and investment potentials in their respective regions.

The search for partners between Indonesian and Australian business people was also carried out at the meeting through one-on-one / business matching, and has resulted in several cooperation agreements.

Reporting by Indonesia Window