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We live in your world - June 2011

We live in your world - June 2011

Indonesia-Australia agreement to enhance trade

Indonesia-Australia agreement to enhance trade

We are actively participating in negotiations aimed at achieving an Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

For a largely services based economy such as Australia’s, negotiating better access and certainty for service providers investing in Indonesia, will help expand Australia’s export base, particularly as demand for services in Indonesia grows.

ANZ Indonesia CEO, Joe Abraham said, “We welcome this step towards formal IA-CEPA negotiations.  As one of Australia’s largest services investors in Indonesia, we support efforts to deepen relations between our two countries, including initiatives designed to help build capacity and capability in Indonesia. IA-CEPA will help facilitate a more open and competitive market and provide further opportunities for Australian companies to invest in growing their businesses in Indonesia and for Indonesian companies to do the same in Australia,” he said.

In Indonesia, we operate through our subsidiary the locally incorporated joint venture bank ANZ Panin. In addition we have a 38.8% strategic investment in Panin Bank which is the seventh largest bank in the country. Our aspiration is to be a leading international bank in Indonesia, offering banking services to personal customers and to corporate clients in areas such as natural resources, infrastructure and agriculture. To support our growth plans, we are investing significantly in our operations and expanding our services to our customers. These investments make us one of Australia’s largest investors in the country and an active participant in Indonesia’s banking landscape.  

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