While the pandemic has pressured some countries into protectionism, Indonesia and Australia have pursued the opposite strategy, seeking a faster recovery and stronger economic bond by building on their long-standing bilateral relationships.
The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) negotiations began in 2012 and it officially came into force on 5th July 2020. It was a crucial juncture for both countries, just a few months following the 70-year celebrations of Indonesia-Australia diplomatic relations and the start of the COVID-19 pandemic, which forced many countries to close their borders. On top of lifting remaining barriers in trade and services, the purpose of IACEPA is to strive for mutual economic benefits and foster people-to people engagement. It also serves as a key to recovery, providing a framework for both parties to survive and emerge stronger from the health and financial crisis brought on by the widespread pandemic.
As challenging as the current situation sounds, the Australian Ambassador to Indonesia, HE Penny Williams PSM, is optimistic about the Indonesia-Australia bilateral relationship going forward. Williams, the first woman to hold the position, took the baton from her predecessor, HE Gary Quinlan AO, in September.
HOME COMING
Denne historien er fra December 2021-utgaven av Forbes Indonesia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 2021-utgaven av Forbes Indonesia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.
