Indonesia And Saudi Arabia Strengthen Potential Trade And Investment Cooperation

Cooperation (Photo: dock. Unsplash)

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto and Minister of Economy and Planning of Saudi Arabia, Faisal F. Alibrahim strengthens the potential for cooperation in the Trade and Investment sectors in the fields of Energy, Tourism and Umrah/Hajj.

The two countries between Indonesia and Saudi Arabia, have a close and strategic relationship, especially in energy cooperation, where several projects have been running in the form of projects between Saudi Arabia and Pertamina and PLN.

Faisal said Saudi Arabia would expand cooperation between the two countries in the tourism sector, especially in the Sumatra region.

In addition, Airlangga proposed increasing activities in the context of implementing the pilgrimage, and reminded President Prabowo's plan to build a Hajj village in Makkah or Indonesian Village.

Airlangga also encouraged the sustainability and expansion of trade and investment cooperation between Indonesia and Saudi Arabia.

"Saudi Arabia is a strategic partner for Indonesia to achieve the 2045 Golden Indonesia Vision, the need for expansion of cooperation is not only related to religious tourism (Umroh / Hajj) and oil," Airlangga said in his statement, Wednesday, February 12.

Airlangga said that this cooperation is expected to increase the volume of trade between the two countries through the Indonesia-Gulf Cooperation Council Free Trade Agreement (I-GCC FTA) where in 2024, Indonesia's export rate to Saudi Arabia will increase by 11 percent.

"We hope that with the continued dialogue on the I-GCC FTA negotiations, Indonesia can obtain an increase in trading volume with several strategic partners, especially with Saudi Arabia," said Airlangga.

The same thing was also revealed by Faisal that Saudi Arabia was committed to accelerating these negotiations and inviting Coordinating Minister Airlangga to Saudi Arabia for further discussions.

Previously in Jakarta, Coordinating Minister Airlangga had met with (HRH) Prince of Turkey Al-Faisal and Faisal Abdulah H. Amodi, Ambassador of Saudi Arabia to Indonesia.