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Shortly after Indonesia's ratification of the agreement, Australia's Monash University revealed plans to open a campus in Indonesia, becoming the first foreign university to do so in Indonesia. [20] Indonesian economic observers remarked that the free trade agreement may lead to increased imports of agricultural products, primarily Australian ...
Australia and Indonesia have established diplomatic relations since 27 December 1949, [1] when Australia recognised Indonesia's independence. [2] [3] Historically, contact between Australians and Indonesians began as early as the 16th century prior to the arrival of the Europeans, through Makassan interactions with indigenous Australians on Australia's western and northern coasts.
The Timor Gap refers to the 60,000 square kilometre "coffin-shaped" area between Australia and East Timor. [6] The area contains several oil and gas reserves. The exact value of the resources contained in the Timor Gap is unknown, but three of the largest reserves, Elang-Kakatua, Bayu-Undan and Sunrise-Troubadour are estimated to hold US$17 billion worth of oil.
In January 2012, Australia and Indonesia organized a free trade zone within their territory as a result of an agreement among ASEAN, Australia, and New Zealand. [4] In May 2012, a report to the Commonwealth Government of Australia highlighted the potential for cooperation between Australia, Timor-Leste, and Indonesia.
In the financial year 2017/18, tourism represented 3.1% of Australia's GDP contributing A$57.2 billion to the national economy. [162] Domestic tourism is a significant part of the tourism industry, representing 73% of the total direct tourism GDP. [162] In calendar year 2018, there were 9.3 million visitor arrivals. [163]
This is a list of the largest two-way trading partners of Australia, ... 1.9% 14 Indonesia: 8,643: 1.6% See also. List of the largest trading partners of New Zealand;
The following is a list of the top 20 exports of Australia in 2017-18, ... 1.0 19: Other ores & concentrates [b] 3,141: 0.8 20: Alcoholic beverages: 3,111: 0.8 References
Bank Ekspor Impor Indonesia (BankExim), formerly the Indonesian branch of Nederlandsche Handels Maatschappij which eventually becomes ABN AMRO Bank Bumi Daya (formerly Bank Umum Negara), the result of the nationalizations of Nationale Handelsbank and the Chartered Bank of India, Australia and China (now Standard Chartered ; the latter returning ...