JAKARTA - After the COP26 Summit in Glasgow-Scotland, President Joko Widodo along with the Coordinating Minister for Economic Affairs Airlangga Hartarto and a number of other Indonesian Advanced Cabinet Ministers, continued their working visit in Abu Dhabi, United Arab Emirates (PEA), on November 3-4.
The first activity was a bilateral meeting with the Crown Prince of Abu Dhabi / Deputy Supreme Commander of the PEA Armed Forces, H.E. Mohammed Bin Zayed Al Nahyan at the Al-Shatie Palace. During the meeting, it was agreed that the two countries would continue to increase trade and investment cooperation, especially after the launch of the Indonesia-UAE Comprehensive Economic Partnership Agreement (IUAE-CEPA) negotiations in September 2021, and it is hoped that it will be completed in approximately one year.
With the CEPA agreement, it is hoped that the two countries can increase the number of trade to more than 3 times from the current level, and raise the investment rating of PEA in Indonesia from the previous rank of 25.
"Especially with the enactment of the Job Creation Law which facilitates the process of foreign trade and investment services as part of Indonesia's economic transformation towards national economic recovery after the COVID-19 pandemic," said Coordinating Minister Airlangga.
In particular, Indonesia hopes that PEA can increase its investment in health and a green and sustainable economy. In addition, the two countries agreed to take steps to increase economic, trade and investment cooperation, including in the defense industry, through a bilateral mechanism that has been established. Including the realization of a number of cooperation agreements that were produced and agreed in the last 3 years.
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