Indonesian President Joko Widodo urges businesses to invest outside traditional locations

Indonesian President Joko Widodo urges businesses to invest outside traditional locations

By David Spicer

Updated 25 Feb 2017,

Indonesian President Joko Widodo has heard first-hand the challenges Australian businesses face in investing in his country.

Mr Widodo met Australian business chief executives — from the pharmaceutical, mining, tourist and service industries — in Sydney on Saturday to learn about the investment barriers.

He urged them to consider investments outside traditional locations such as Bali.

Head of Indonesia's Investment Coordinating Board Thomas Lembong said red tape needed to be removed in both countries and expressed confidence a trade deal could be finalised this year.

"We are confident that we will be able to complete the comprehensive economic partnership agreement with Australia this year," he said.

"Of course, in the time remaining both sides want to make it as impactful and ambitious as possible."

Meanwhile, Justice Minister Michael Keenan said the Government needed to build its economic ties with Indonesia.

"We are underdone on that front, and there's a lot more that we can do. The Indonesian economy continues to grow very fast. It's an enormous population," he said.

"It's a great opportunity for Australia, and we want to make sure that Australians can take advantage of that."

Earlier this year, Army Chief Angus Campbell issued an apology to his Indonesian counterpart after material perceived to be insulting Indonesia's state ideology had been found at a Perth special forces base.

Mr Keenan said there was no rift between the two countries.

"We don't need to smooth over the relationship. It's never been stronger," he said.

"I was up in Indonesia a month ago. The relationship, the cooperation between Australia and Indonesia is at its peak at the moment."

http://www.abc.net.au/news/2017-02-25/widodo-urges-businesses-to-invest-outside-traditional-locations/8303818

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