A new trade era with one of the fastest growing economies has commenced, with the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) taking effect on 5 July.
The IA-CEPA agreement is set to help Australian vegetable exporters trade into this important market.
The agreement to increase import quotas and decrease tariffs for carrot and potato exports, should lead to an immediate increase in the trade of over AUD$15 million in annual trade — an increase of over 300 per cent in the current trade of fresh vegetables to Indonesia.
Key outcomes for the vegetable industry from IA-CEPA are:
- Carrots – increased import quota of 5,000 tonnes per year, growing to 10,000t per year after 10 years, with a decreasing tariff schedule during this time.
Potatoes – increased import quota of 10,000t per year, growing to 12,500t per year after five years, with a decreasing tariff schedule during this time.
For more information:
Michael Coote
Ausveg
Tel: +61 (03) 9882 0277
Email: michael.coote@ausveg.com.au