INDONESIA-AUSTRALIA FTA WILL BENEFIT ASEAN, SAYS CREAN

MELBOURNE, Feb 19 (Bernama)-- Australia's Trade Minister Simon Crean and his
Indonesian counterpart met Thursday in Sydney for talks aimed at strengthening
the bilateral trade and investment relationship.

Both Ministers welcomed the final draft of the joint feasibility study on an
Indonesia-Australia Free Trade Agreement.

The study found that a comprehensive FTA would build on the solid foundation
of the ASEAN-Australia-New Zealand FTA and provide worthwhile gains for both
countries.

"An FTA between Australia and Indonesia would be a major step forward in the
bilateral trade and economic relationship. Both governments must now consider
the study.

"I will discuss the next step with my ministerial colleagues,
including undertaking a process of further public consultation," Crean said in
a statement.

"The Australia-Indonesia trade relationship has not kept pace with the
growing strength of many other aspects of the bilateral relationship. A
bilateral FTA could help realise the significant untapped potential in our trade
relationship.

"We agreed that an FTA which covers trade, investment and capacity building
issues would be the best way to build a new economic partnership between
Indonesia and Australia," he added.

He said the Australian Government -- like Indonesia -- placed emphasis on
multilateral trade liberalisation, but he also said these arrangements could be
enhanced by a high quality bilateral FTA.

Both Ministers reaffirmed their commitment to a liberal international
trading environment to ensure that trade played a positive part in dealing with
the global economic crisis.

"We agreed on the importance of concluding a comprehensive, balanced outcome
in the World Trade Organization Doha Round of trade negotiations in 2009," Crean
said.

He added that the soon to be signed ASEAN-Australia-New Zealand Free Trade
Agreement (AANZFTA) -- Australia's largest FTA agreement -- would help
drive regional economic integration.
-- BERNAMA