March 11 (Bloomberg) -- Indonesian President Bambang Susilo Yudhoyono said expanding trade links with Australia is an opportunity for companies to invest in his country\u2019s energy-rich eastern region.<\/p>\n
Yudhoyono, speaking to business leaders in Sydney today on the final day of his three-day visit to Australia, said he agreed in talks with Prime Minister Kevin Rudd that there\u2019s room to grow trade relations. Indonesia is Australia\u2019s 13th-largest trading partner.<\/p>\n
\u201cThe emphasis will be on six provinces in the eastern part of Indonesia\u201d the president said, referring to Papua, Papua Barat, Maluku, West Nusa Tenggara, Bali, and East Nusa Tenggara, which includes West Timor and is positioned near the oil- and gas-rich Timor Sea. The focus will be on \u201cfood security, energy security and infrastructure building,\u201d he said.<\/p>\n
About 400 Australian companies operate in Indonesia, the world\u2019s most-populous Muslim nation, including those in the mining, construction, banking, transport and food and beverage industries. Indonesia has the Asia-Pacific\u2019s largest proven natural gas reserves and one of the world\u2019s largest thermal coal resources.<\/p>\n
Australia is Indonesia\u2019s 12th-largest investor, excluding oil and gas, Yudhoyono said, and \u201cthis is a statistic that we can improve.\u201d<\/p>\n
The leading investors in Indonesia are Japan, South Korea, Taiwan and Indonesia\u2019s neighbors in Southeast Asia.<\/p>\n
Australia and Indonesia have concluded a feasibility study into a free-trade agreement and are \u201cnow considering the next steps,\u201d Rudd said yesterday after talks in Canberra. \u201cWe share the goal of increasing the volume of bilateral trade and investment.\u201d<\/p>\n
Energy Needs<\/p>\n
Indonesia is tackling its immediate need for power generation with a 10,000 megawatt project now in progress and another 10,000 megawatt development that will begin soon, Yudhoyono said.<\/p>\n
The country is investing in infrastructure building and Yudhoyono said he is confident private investors will enter partnerships to complete projects, helped by cuts to tax and customs costs, revamped registration and streamlined licensing.<\/p>\n
--Editors: Paul Tighe, Dave McCombs<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesia-wants-australian-firms-to-tap-energy-rich-provinces-1268306214", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }