Ken O'Dowd (Flynn, National Party) Share this | Link to this | Hansard source

On behalf of the Joint Standing Committee on Trade and Investment Growth, I present the committee's report entitled, Leveraging our advantages: The trade relationship between Australia and Indonesia.

Ordered that the report be made a parliamentary paper.

by leave—Indonesia is our largest neighbour, but it is only our 13th largest trading partner. By 2030, Indonesia is expected to be in the top 10 economies of the world and the fourth largest economy by the year 2050. Australia can do more to leverage our location and to enhance our trade relationships. The report discusses the current trade relationships with Indonesia and the opportunities there are to improve this.

Tourism and education services are currently the biggest areas of trade. Indonesia is now the second most popular destination for Australian holiday-makers after New Zealand. Australia is the most popular destination for Indonesians looking to study abroad.

The report examines trade barriers in the existing relationship, including the mid-season quota restrictions, mandarins and feedlots five to one quotas. The report calls for a reduction in non-tariff barriers to trade. The inquiry heard about potential areas where trade relationships can be improved through increased cooperation, including in banking, infrastructure, medical, mining services and agriculture.

The governments of Australia and Indonesia are currently negotiating a partnership agreement. Given these negotiations, the committee decided to issue a short report noting high-level issues so that the report can assist and not hinder these negotiations. The report recommends measures to be addressed in this agreement. The report also recognises the key role northern Australia can play in building partnerships with Indonesia for tourism, education and maritime services. The report is unanimous. The committee sees the opportunities to leverage our joint advantages and build strong partnerships with our closest neighbour. I commend the report to the House, and I move:

That the House take note of the report.

Report made a parliamentary paper in accordance with standing order 39(e).

Debate adjourned.