IABC Bali Branch Webinar - Wednesday, 5th August 2020
Webinar “How the implementation of IA-CEPA can Improve Indonesia - Australia businesses” was organized by Indonesia Australia Business Council (IABC) Bali Branch on Wednesday, 5th August 2020. The webinar was held to inform business communities of opportunities on The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) which entered into force on 5 July 2020.
The IA-CEPA is a bilateral agreement signed between Australia and Indonesia in March 2019, ratified by Australia in November 2019 and Indonesia in February 2020. The agreement contains a free trade agreement removing tariffs from nearly all products traded between both countries, in addition to loosening investment regulations in Indonesia for Australian firms and increasing the quota for Indonesians seeking vocational training in Australia.
IA-CEPA contains clauses on bilateral free trade, investments, skills training visas, investor arbitration, e-commerce, and intellectual property protection. Indonesia, under the agreement, will remove tariffs from nearly all Australian products exported to Indonesia while all Indonesian products exported to Australia will be free of tariffs. Australian firms would be permitted to hold a majority stake in Indonesian telecommunications, transport, health, and energy firms. Additionally, the number of work holiday visas issued to Indonesians annually would be increased from 1,000 to 4,100 (later to 5,000 by 2026), and Australian universities would be permitted to open campuses in Indonesia.
The deal also includes protections against discrimination and expropriations and prevents software developers from being forced to hand over their source code to sell their products. Additionally, Australian businesses were granted exceptions to an Indonesian regulation requiring online marketplaces in Indonesia to store data locally.
“We need to be more active on socialization of IA-CEPA free trade agreement we need to make sure that Indonesia businesses will fully aware and taking part of massive opportunity of the implementation of IA-CEPA, we need to utilize it for our benefit, this is way we IABC Bali Branch need to arrange the webinar and invite all our members and Indonesia businesses to join and get full explanation for the two expert speaker who not only know about it but actually being in the negotiations process itself, I hope trough the webinar it will help on the understanding and giving more insight for all the business in Indonesia” said Ida Bagus Rai Budarsa President IABC Bali Branch.
The webinar participants register are 313 person from two country Indonesia and Australia, 3 cities from Australia; Sydney, Adelaide and Melbourne and from Indonesia 13 city ; Bali, Jakarta, Surabaya, Yogyakarta, Malang, Semarang, Bandung, Makasar, Menado, Gorontalo, Lombok, Jember, Bengkulu. At the same time webinar was also live on Facebook under the IABC Bali Branch account and participate by more than 360 on live streaming.
Webinar lead by one of the board members of IABC Bali Branch Mrs Suzana Chandra Managing Director & Co Founder of Lestari Living Group. With the opening speech by Ida Bagus Rai Budarsa President IABC Bali Branch follow with opening Speech by Mrs Anthea Griffin, Australia Consul General Bali. NTB and NTT the webinar was officially open.
The first speaker was Mrs Ni Made Ayu Marthini, Director for Bilateral Trade Negotiations at Ministry of Trade of the Republic of Indonesia, who gave the full explanation of IA- CEPA on how, what to cover and lots of information for all detail to be able to maximize the agreement into business practice. Her explanation was even more explain detail by the second speaker Mr. Todd Dias the Head of the Economic Trade and Investment Section at the Australian Embassy in Jakarta that share on Australian point of view on things to be prepare for Indonesia businesses to start to work with Australian, couple of success story was share and inspired the audience. (The link to both speaker presentation are available below)
An exceptionally good and positive feedback from the audience show by the discussion on the Q&A session express the interested of the audience the eager to maximize the opportunity of the free trade agreement IA-CEPA.
“Looking at the feedback from the audience and review on the sector that most interest by the audience, I believe we need to arrange the follow up program to help Indonesia and especially Balinese businesses” said Ida Bagus Rai Budarsa President IABC Bali Branch by the end of the session.
About IABC Bali Branch
Established in 1989, The Indonesia Australia Business Council (IABC) is a business association representing private sector business interests in commercial relations between Indonesia and Australia. IABC Working closely with the Indonesian government and The Australian Embassy in Jakarta, with mission to provide a friendly networking organisation for companies, organisations and businesspeople of all nationalities involved or interested in business between Indonesia and Australia.
The mission of the Indonesia Australia Business Council is to provide a convivial networking organisation for companies, organisations and business people of all nationalities involved or interested in business between Indonesia and Australia. The IABC focuses on:
Enhancing Indonesia-Australia business links and fostering friendship between the communities of each nation.
Communicating investment and business opportunities in both Indonesia and Australia..
Providing a forum to accommodate all types of business..
Serving as a lobby group to further the business interests of members.
Serving as a consultative body to governments, industrial sectors and the chambers of commerce and industry..
Building a nation-wide organisation by establishing branches in major cities throughout Indonesia.
IABC Bali Branch has been established in Bali since 2012, Mr Ida Bagus Rai Budiarsa, the President of the IABC Bali Branch follow with the board members : Mr Ketut Rai Arya (Maya Resort), Ms Kertawidyawati (Hatten Wines), Mark Savage (Indohomes), Mr John Russel ( John Russel Golf), Mr Michael J Burchett (MJB Hotelier), Mr Maxwell M Hunt (Green Earth Plantation), Ms. Inda Trimafo Yudha (member of DPRD Kabupaten Badung), Mr I Gede Paskara Karilo (Wapa Group), Ms Suzana Chandra (Lestari Living Group), Mr Richard Flax (Astro Pertama Indonesia) and Tjokorda Gde Bayuputra Sukawati (Pitamaha Group). With The Hononary Mrs Anthea Griffin as the Australian Consulate General along with Mr IB Kharisma Wijaya as the Advisory board
For further information feel free to contact
Bali Branch Interim Secretariat:
Hatten Wines Building
Jl. By Pass Ngurah Rai 393 Sanur Bali 80228
Telp +62 361 472 1377, Email : firstname.lastname@example.org