I’m pleased that Australia and Indonesia have successfully concluded negotiations on the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), deepening our economic and security cooperation with one of our major trading partners.
Indonesia is one of the largest economies in the world, and building the economic ties between our nations will lead to even more opportunities for Australian businesses.
A renewed economic partnership with Indonesia is particularly a major boost for Australian farmers with the grains, live cattle, dairy and horticulture sectors set to benefit from greater certainty of access and lower tariffs.
Greater market access and opportunities within the regions will give farmers more scope to expand their operations. It will allow us to take advantage of Indonesia’s growing economy, particularly in the agricultural and manufacturing industries. This is good news for our farmers, who are still experiencing prevailing drought conditions right across NSW.
As a result of the Agreement, Australian farmers will be able to export 500,000 tonnes of feed grains such as wheat into Indonesia tariff free, which is a significant boost for the Australian wheat industry.
This stronger relationship will increase prosperity for both Australians and Indonesians. It will further reinforce Australia's strengths to build opportunities in Indonesia, and I expect this will open up new pathways and make Australian businesses more competitive within the Indonesian market and with other trading partners in the region. Of course with business growth comes the creation of more local job opportunities.
IA-CEPA will support Australian industrial producers in areas such as steel, copper and plastics. Australian service industries including health, mining, telecommunications, tourism and education will also have greater access to Indonesia's growing economy.
This is a landmark advance in our economic partnership with Indonesia, upon which the Coalition Government will build. I look forward to seeing how local industries can take advantage of the IA-CEPA in due course.
$12 million for prostate cancer
The Coalition Government and Movember Foundation are teaming up to combat prostate cancer by investing $12 million into ground-breaking new research.
The research is aimed at reversing the significant number of deaths caused by the disease, which is Australia’s second most deadly cancer, claiming the lives of around 3500 men in 2018. It is a complex disease that also causes a range of health problems.
The funding will establish the Prostate Cancer Research Alliance, which will be comprised of research teams focused on conducting life-saving prostate cancer research.
The researchers will focus on two key areas:
– stop prostate cancer progressing to advanced, more deadly stages; and
– improve treatments and life expectancy for men with advanced prostate cancer.
The Alliance will significantly accelerate and expand the current research, find better treatments and ultimately seek to find a cure for the many men fighting prostate cancer.
The research will benefit more than 17,000 Australian men diagnosed with prostate cancer each year.