12:55 – That’s it for the day’s first panel!
Fantastic business panel today #causindy. Speakers doing an excellent job of communicating key macro issues in commercial relationship.
— Bede Moore (@BMVenerabilis) September 16, 2014
Late to CAUSINDY? Here’s a short recap on the conference so far.
12:50 – Tommy Tjokro moves to wrap up the panel.
So, what’s the most important aspect we can work on?
Chris Barnes: education. It’s vital, and CAUSINDY is helping.
Sinthya Roesly: Participation in private sectors and helping the government work on ‘the greater good’
Fauzi Ichsan: Indonesia is entering a new era – an exciting era where a commoner became president and the Jakarta elite is loosing their grip on running the country. Fauzi hopes Indonesia and Australia can share in this new era’s progress
12:40 – The elephant in the room is brought up: fuel subsidies.
Fauzi Ichsan: my feeling is that the fuel price will be hiked quite sharply in the last quarter of this year #CAUSINDY
— CAUSINDY (@causindy) September 16, 2014
12:30 – So, what about free trade?
12:20 – CAUSINDY delegates sharing their thoughts on the discussion
12:05 – After months of scaremongering on ‘foreign interference and money’ by some in Indonesia, the panel says it is a positive and needed thing in the current climate.
12:00 – We just had CAUSINDY’s first mention of ‘Indonesia at a crossroads’ (this makes the communications team very happy)
11:50 – Interesting thought, especially when you consider the brand ‘power’ of some English Premier League teams in Indonesia.
11:45 – Fauzi says people to people links are much stronger than government to government.
With the incoming Jokowi administration that’s set to me more domestic focussed, this will most likely continue.
But Chris Barnes also suggests…sport! Cites Indonesian ownership of the Brisbane Roar A-League team.
Barnes details he’d like to see an Indonesian bank to open in Australia. Not to serve the Indonesian diaspora or retail banking, but for syndicated loans with the expertise exported back to Indonesia.
Fauzi Ichsan is sceptical however, says it would be very hard for an Indonesian bank to compete with an Australian bank in Australia (access to market, credit ratings, et al).
Ichsan proposes Australian and Indonesian banks should be working together instead.
11:20 – We’re off!
Chris Barnes: Business can do a lot more to improve the relationship. The relationship is currently ‘underweight’ and many opportunities are being overlooked.
Fauzi Ichsan: Australian banks operating in Indonesia are in a special (even privileged) position. They’re trusted here, got great ratings and can access local funds easily – they can still be doing a lot more, however.
11:00 – Delegates and guests are arriving for our trade and economic panel – it is set to be a lively discussion! Remember to follow the #causindy hashtag for a blow-by-blow account.
10:05 – Colin McDonald reflects on the beginnings of ‘real’ engagement with Indonesia, first under PM Bob Hawke and then much strongly under PM Paul Keating. McDonald was an advisor to both Prime Ministers on Indonesian affairs.
9.45am (Jakarta time): We’re beginning a little early this morning, as we prepare for a discussion with Colin McDonald, QC, a leading barrister and founding member of the Australia-Indonesia Institute.
Also on the program today:
- Trade and economics panel, with Fauzi Ichsan, Sinthya Roesly, Chris Barnes and Tommy Tjokro. They’ll be discussing the future of Indonesia’s economic development, and the next steps for Australia in the wake of the mining boom.
- Behind closed doors, a candid look at what really happens in the political relationship.
- John vs. John, a debate between business leaders John Riady and John Denton.
Want to catch up on yesterday’s sessions? Check out the not so live blog.