Australia and Indonesia are planning to sign a landmark free trade deal in March, ahead of elections in both countries.
The trade deal was meant to be signed last year but was delayed when Prime Minister Scott Morrison announced a surprise decision to move Australia's Israeli embassy to Jerusalem.
The deal is particularly important for Indonesia as it allows Australian-owned universities to operate in the country, helping educate Indonesia's 130 million-strong workforce.
Indonesian Trade Minister Enggartiasto Lukita told reporters that the Indonesia-Australia Comprehensive Economic Partnership Agreement would be signed at an Indonesia-Australia business conference.
"We want to make a business forum in March. We need its scope. It is true (we will sign the CEPA)," Antara reported him saying on Thursday.
Australian Trade Minister Simon Birmingham said he was pleased to be finalising arrangements for the signing, which he hoped to achieve in March.
"This a strong deal for both our countries, which will increase the two way flow of trade and investment, creating more opportunities for farmers, businesses and economic development," Senator Birmingham said in a statement on Friday.
"Indonesia is the third largest democracy in the world with a fast growing economy, making the strengthening of our ties both strategically and economically important."
The expected signing would come ahead of the April 17 Indonesian election and Australia's May federal poll.
The deal opens up opportunities for businesses - the two countries are both in the world's top 20 economies but neither is in each other's top 10 trading partners.
Mr Morrison went to Jakarta in August on his first overseas trip as prime minister, meeting Indonesian President Joko Widodo and signing an agreement to conclude the deal.
It was on track until Mr Morrison announced in October he was considering moving the Tel-Aviv embassy to Jerusalem.
Indonesia, the world's most populous Muslim country, was hosting the Palestinian foreign minister on that day, forcing them into a public show of opposition to Australia.
But the deal is important to Indonesia, which is trying to transform into a higher skilled economy.
About half of Indonesia's huge workforce has an education level of Year Six or below.
Australia gave Indonesia $1 billion over 10 years after the 2004 Boxing Day tsunami, with the majority going towards building 2700 schools across the country.
Australian Associated Press