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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.
Australia's Prime Minister Tony Abbott and China's paramount leader Xi Jinping announced the conclusion of negotiations for the China–Australia Free Trade Agreement (ChAFTA) on 17 November 2014. A Declaration of Intent to work towards signature of the Agreement was signed by Australia's Trade and Investment Minister Andrew Robb and China's ...
This is a list of the largest two-way trading partners of Australia, based on data released by the Australian Department of Foreign Affairs and Trade for the 2022 calendar year. [ 1 ] The largest trading partners
China stopped accepting coal shipments, leaving ships containing hundreds of millions of tonnes of coal stranded on China's coast. In December 2020 the government formalised a position to increase coal imports from Mongolia, Russia and Indonesia, in place of Australia's $14B of coal exports to China. [2]
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.
The trade-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country. It is calculated by dividing the aggregate value of imports and exports over a period by the gross domestic product for the same period.
Australia was a founding member of the General Agreement on Tariffs and Trade (GATT) in 1947, which aimed to promote international trade by reducing tariffs and other trade barriers. The focus during this period was primarily on multilateral trade negotiations rather than bilateral agreements.