First Time Visiting Algeria, Foreign Minister Retno Brings Economic Mission

JAKARTA - Foreign Minister Retno Marsudi carried an economic mission during her visit to Algeria to meet Foreign Minister Ahmed Attaf.

"I discussed very well with the Minister of Attaf on how we can strengthen our bilateral cooperation, especially in the economic field," said Retno as quoted by ANTARA, Wednesday, December 20.

Algeria is one of Indonesia's five main trading partners in Africa. The trade volume of the two countries continues to increase by 15.77 percent every year.

However, our bilateral trading volume does not reflect the true potential.

"To increase two-way trade and ensure more sustainable and balanced trade, Indonesia proposes preferential trade agreements between the two countries, and for that I ask for the support of the Minister of Attaf," said Retno.

Then in the energy sector, Foreign Minister Retno welcomed the signing of a memorandum of understanding (MoU) for Energy and Mining Cooperation, which will strengthen cooperation between governments and encourage cooperation between business actors and investment in the energy sector.

According to him, Indonesia is a good partner for Algeria in energy cooperation. BUMN energy from Indonesia, Pertamina, has become a trusted partner for Algeria in the oil and gas industry.

Furthermore, Retno reaffirmed Indonesia's commitment to investing in Algeria, including that shown by Pertamina through an investment of 900 million US dollars to 2048 to support the energy sector in Algeria.

Pertamina, he continued, stated that it is ready to continue to expand its investment in Algeria, including in new areas such as refineries and decarbonization.

"We also hope to expand economic cooperation outside the oil sector through various joint projects in the fields of electricity, mining, renewable energy," said Retno.

Regarding the bilateral mechanism, the two Foreign Ministers agreed to reactivate the bilateral Indonesian-Aljazar mechanism, including a joint ministerial-level commission meeting and bilateral consultation at the senior official level.

Both events will be held in Jakarta in the first half of 2024.

"This mechanism is very important in our efforts to see progress and overcome challenges in our cooperation," said Retno.

This year is an important momentum for Indonesia and Algeria, which commemorates 60 years of diplomatic relations.

"Aljazair is a good friend of Indonesia. Our association has been fostered by parafounding fatherskita since the early years of the founding of our two countries," said Retno.

During her visit to Algeria, Foreign Minister Retno was also accompanied by a team from PT Pertamina (Persero).