Australian Prime Minister Tony Abbott reportedly supported Indonesia's investment plans in the local cattle industry. The move was seen as a strategic step to improve the cattle industry in Australia and eventually reduce Indonesia's pricing on beef.
The comments from Abbott came on the end of his official visit to the Asian country. Indonesia had revealed their plans in buying Australian farmland of up to 1 million hectares for cattle. Abbott said, "If some Indonesian joint ventures in cattle are an important part of getting this trade re-started, well, please bring them on, bring them on."
Cattle exports to Indonesia had been suspended briefly due to reports on animal cruelty in an abbattoir in Indonesia. Although the issue about foreign investment, especially by Indonesia, was sensitive, Abbott saw the renewed reception of foreign investment as a good thing.
"This is not designed to lock up our country. This is designed to ensure that the Australian people understand that the foreign investment we have and the foreign investment we welcome really is in our own best interests. I just want to scotch any suggestion that might be out there that somehow trade and investment is bad for Australia. Wrong, wrong, wrong. Trade and investment is good for Australia," Abbott said.
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