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New Year gift for exporters: Trade deal with Indonesia ‘very close’

New Year gift for exporters: Trade deal with Indonesia ‘very close’ article image

Trade Minister Steven Ciobo says the Federal Government is close to securing a free trade agreement with Indonesia, despite missing last year’s deadline.

The two countries have been negotiating the FTA for several months and were expected to close the deal in November.

Mr Ciobo was confident the deal would be concluded before the end of 2017, but talks will now continue early this year.

He says both nations are "very close" to finalising the agreement, but no definite date has been set.

The Coalition is hoping to have the deal signed in time for a special meeting of Association of South-East Asian Nations (ASEAN) planned for Sydney in March.

"The number one priority right now is to conclude the Indonesia free trade agreement." Mr Ciobo said.

"We know our trade and economic relationship with Indonesia is underweight given the relative significance of both Indonesia's and Australia's economies."

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