The AEGIC report shows that Indonesia, which is already Australia's biggest wheat customer, is growing rapidly and should be a key strategic priority for Australia.
AEGIC Chief Economist Ross Kingwell said the IA-CEPA was an important milestone in the relationship between the Australian grains industry and Indonesia.
"This new agreement will provide a blueprint for future growth and collaboration between Australia and Indonesia and will result in significant benefits for both countries," Professor Kingwell said.
"Indonesia already buys almost one quarter of all Australian wheat exports and is expected to experience huge growth in the coming decades," he said.
Prof Kingwell said by 2030, Indonesia will be the world's 5th largest economy and its populati...