Insight,

Indonesia-Australia Comprehensive Economic Partnership Agreement set to commence on 5 July 2020

AU | EN
Current site :    AU   |   EN
Australia
Belgium
China
China Hong Kong SAR
Germany
Italy
Japan
Singapore
Spain
UAE
United Kingdom
United States
Global

 

This article was written by Michael Lawson and Emily Travers-Jones.

On 7 May 2020, Trade Minister Simon Birmingham announced that the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) will enter into force from 5 July 2020, after receiving formal notification that Indonesia has completed its ratification process.

The agreement builds on the existing ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) and deepens Australia's economic and security cooperation with Indonesia – one of its strategically important trading partners.

In our view, the agreement presents significant opportunities for Australian exporters of goods and services across a number of sectors, including food and agribusiness, energy and utilities, financial services and transport and infrastructure.  It also has the potential to provide welcome relief to many sectors adversely affected by COVID-19.  By stimulating growth and investment between and within the two nations, the trade deal will enhance Australia's export capabilities and create jobs which will help affected industries get back up and running as COVID-19 restrictions begin to ease.  

Additionally, the IA-CEPA will help facilitate electronic commerce across the two regions – an area of particular interest over the past few months given the practical headaches caused by the COVID-19 shutdowns. In the IA-CEPA, both Australia and Indonesia have endorsed the use of electronic authentications and signatures, and have committed to working towards paperless trading with the acceptance of digital trade administration documents.

For more detail on the key features and opportunities associated with IA-CEPA, please see our previous alert: Indonesia-Australia Comprehensive Economic Partnership Agreement.

If you would like to discuss the IA-CEPA and what it may mean for your business, don't hesitate to reach out to the authors or one of your regular contacts at King & Wood Mallesons.

 

LATEST THINKING
Insight
On 2 August 2022, the Aged Care and Other Legislation Amendment (Royal Commission Response) Bill 2022 was passed (Aged Care Bill), introducing important regulatory changes to Australia’s aged care sector. The Bill makes numerous legislative amendments, including to the Aged Care Act 1997 (Cth) (Aged Care Act) and the Aged Care (Transitional Provisions) Act 1997 (Cth) (Transitional Provisions Act), and responds to various recommendations made by the Royal Commission into Aged Care Quality and Safety (Royal Commission) Final Report (Report). The Report identified the provision of substandard aged care services and perceived systemic failures in the aged care sector.[1]

08 August 2022

Insight
The Federal Court has refused an application to stay proceedings to quantify compensation for patent infringement (quantum proceedings) pending the outcome of separate parallel proceedings challenging the validity of the infringed patent on new grounds. The case is significant as intellectual property cases are regularly bifurcated with liability determined separately damages or an account of profits. A patentee may also bring consecutive infringement cases and therefore have two separate cases considering invalidity issues for the same patent running in parallel.

03 August 2022

Insight
Since the introduction of a nationwide Marketing Authorization Holder (MAH) system in 2019, licenses have linked directly to therapeutic products rather than manufacturers.

03 August 2022