Australia Seeks to Bolster Agricultural Trade to Indonesia BY :MELEVA THORN FEBRUARY 15, 2021
Perth. After a year of bushfires, floods, and drought, the Australian agricultural industry is on the road to recovery. One of the countries that will play a major role in helping heal this industry is Australia’s biggest neighbor, Indonesia.
Several factors may add the pace to future growth of bilateral trade, such as Australian and Indonesian government initiatives, recent economic agreements, and a long-term cultural and trade relationship. In 2020, the two-way trade between Australia and Indonesia in various industries related to agriculture was estimated to be A$3.1 billion (US$2.4 billion).
âThe China-Australia events have brought home to us that this is something that Australia is increasingly going to face: economic coercion by larger powers that will hurt our economy and hurt society,â he said in an interview.
Wilsonâs report, to be launched at the Australian National Universityâs national security college on Tuesday evening, argues the government needs to become much more willing to litigate trade disputes, both through the World Trade Organization processes and through mechanisms in Australiaâs 15 free trade agreements.
âIn an Australia-China fight we lose, in an Australia-US fight we lose â but a WTO panel ruling against China is one we can win,â Wilson said.
Australia is badly exposed to the rising trend of “coercive trade warfare”, with both China and the US using economic levers to pursue their great power rivalry, a leading analyst says. After China targeted a range of Australian export sectors as the relationship soured last year, and given the Trump administration also pursued “coercive” trade practices, a new report calls on the Australian government to adapt its policies and add to its.
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