Coordinating Minister Airlangga Meets Saudi Arabian Economy Minister To Strengthen Cooperation And Plans In The Investment Sector

JAKARTA - Coordinating Minister for the Economy Airlangga Hartarto held a bilateral meeting with Saudi Arabia's Minister of Economy and Planning Faisal Al-Ibrahim in Davos, Switzerland, on Sunday 22 May.

"There were several issues raised in the bilateral meeting, including trade between the two countries and plans for cooperation in the investment sector," said Coordinating Minister Airlangga Hartarto in an official statement, quoted from Antara, Monday, May 23.

At the meeting, Coordinating Minister Airlangga expressed hope that Indonesia could become a strategic partner of Saudi Arabia through the synergy between Saudi Arabia's Vision 2030 and Indonesia's Golden Vision 2045.

Coordinating Minister Airlangga also conveyed several developments related to Indonesia's G20 Presidency, Indonesia's membership in the Global Crisis Response Group (GCRG), and hopes that the Government of Saudi Arabia will support the achievement of global interests.

Minister Faisal Al-Ibrahim responded by explaining Saudi Arabia's economy is driven by oil and gas, as well as its relationship with the war in Ukraine which causes volatility in energy, metals and investment prices.

Saudi Arabia has anticipated the impact of war by increasing its refinery capacity and hopes that the G20 can maintain global security, especially regarding food security.

The two Ministers also discussed the development of oil technology in Saudi Arabia, such as investment in Carbon Capture, Utilization, and Storage (CCUS), blue hydrogen, and investment in the Indonesian capital.

Saudi Arabia as one of the G20 countries also expressed full support for the G20 Presidency of Indonesia. Coordinating Minister Airlangga also expressed his hope that Saudi Arabia would participate in the G20 Development Ministerial Meeting.