VISIT TO SURABAYA

This week the Shadow Treasurer and Shadow Minister for Trade and Investment will visit Surabaya, Indonesia.

 

This is the Shadow Treasurer’s second visit to Indonesia since the election, underscoring the importance of us developing deeper links with our closest neighbour.

 

Surabaya is Indonesia’s second largest city and an increasingly important hub for trade and investment in the south east Asian region.

 

The shadow ministers will be participating in and speaking at sessions of the Australia-Indonesia Business Council Conference in Surabaya.

 

Indonesia will be the world’s fourth biggest economy by 2050 and with a total population of around 260 million has one of the fastest growing middle classes in the Asian region.

 

With such a large and fast growing economy so close to Australia, we need to continue to develop closer economic relations for our mutual benefit. 

 

While Australia’s exports to Indonesia are growing, Indonesia is not even one of Australia’s top 10 trading partners.

 

In recent weeks Federal Labor outlined the FutureAsia policy that provides the framework for a step change in our relationship with Indonesia and Asia more broadly, including policies to lift Australia’s Asia relevant capabilities.

 

We look forward to talking to discussing with our closest regional neighbours the importance that a future Labor Government will put on improving the economic and broader relationship between Australia and Indonesia.