Home ECONOMY Indonesia-Saudi Arabia Sign Trade Cooperation Contracts Worth Rp2.3T

Indonesia-Saudi Arabia Sign Trade Cooperation Contracts Worth Rp2.3T

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Indonesia-Saudi Arabia Sign Trade Cooperation Contracts Worth Rp2.3T

Timerilis.com – Minister of Trade Zulkifli Hasan witnessed the signing of eight contracts between Indonesian businesses and five Saudi Arabian businesses with a contract value of more than US$155.7 million (IDR 2.3T).

The signing consisted of trade contracts, cooperation agreements, and memoranda of understanding (MoUs). Carried out at the Saudi Chamber Federation Office in Jeddah, Saudi Arabia, Monday (23/01/23).

“I welcome the signing of trade contracts, cooperation agreements, and MoUs between Indonesian businesses and Saudi Arabia. Through this cooperation will continue bigger trade transactions and more commodities,” Minister Zulkifli said in a written statement, as quoted from Antara, Tuesday (24/01/23).

Zulkifli said Indonesian businesses will export several commodities to Saudi Arabia in the form of foodstuffs. RBD palm olein, cooking oil, fish and processed products, meat, vegetables, and processed products, fruits, cocoa, rice, spices, egg noodles, and charcoal.

From the signing of the eight collaborations, there are two MoUs that are specifically for fulfilling the needs of Hajj and Umrah pilgrims.

“The special MoU to fulfill the needs of pilgrims is aimed at fish and processed commodities, as well as meat and vegetables in various types of packaging,” said the Trade Minister.

He emphasized that Indonesian trade representatives abroad will always be ready to assist business actors in increasing exports, including promoting products and expanding markets.

Director General of National Export Development of the Ministry of Trade Didi Sumedi said that his party will continue to strive to increase exports to strategic and non-traditional trading partner countries.

“Opportunities for Indonesian exports to Saudi Arabia are still wide open. For this reason, we invite business actors to optimally utilize these opportunities. So that Indonesian exports to Saudi Arabia will increase,” he said.

Trade Attaché Riyadh Gunawan also said this moment is expected to open opportunities for Indonesia to be more recognized by the people of Saudi Arabia.

“We will continue to encourage more cooperation with Saudi Arabian businesses to increase non-oil and gas exports,” Gunawan said.

The same thing was also conveyed by the Head of ITPC Jeddah Muhammad Rivai Abbas. According to him, the potential for trade between Indonesia and Saudi Arabia can be utilized more optimally.

“Through the signing of this cooperation, it is hoped that trade and economic relations between the two countries will rise,” he said.

The signing of the eight corporations was facilitated by the Ministry of Trade, the Indonesian Embassy in Riyadh, and the Consulate General in Jeddah.

Accompanying the Minister were Indonesian Ambassador to Saudi Arabia Abdul Aziz, Director General of National Export Development Didi Sumedi, and Director General of International Trade Negotiations Djatmiko Bris Witjaksono.

In January-November 2022, the total trade between Indonesia and Saudi Arabia reached US$7 billion. An increase of 45.42 percent compared to the same period the previous year of US$4.8 billion. Meanwhile, the total trade between the two countries in 2021 reached 5.5 billion US dollars. (Eva)