Indonesia signed a free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN), Australia, and New Zealand yesterday . . . however Jakarta announced that it would protect its local markets despite provisions of the FTA that are intended to eliminate import tariffs . . . Indonesia is the last member of ASEAN to join the ASEAN-Australia-New Zealand FTA (AANZFTA), which covers goods, services, investment, and intellectual property . . . Indonesia purchased $2.48 billion in Australian goods from July to November 2011 and Jakarta is Canberra’s 11th largest market for export . . . Australia's share of exports entering Indonesia tariff-free is expected to rise from 56 percent to 92 percent by 2015 . . . the FTA is also expected to help boost trade and help Jakarta maintain its rapid GDP growth.