Indonesia, UAE agree to intensify cooperation in 12 sectors

3 Business-to-Business Memorandum of Understanding’s signed, valued at US$9.7bn

Indonesia and the United Arab Emirates (UAE) are on the same page to increase bilateral cooperation in 12 areas, particularly in the economic field.

“From the substance of (issues) discussed, the first is how the two countries can enhance economic cooperation. Hence, the discussion of economic issues is very dominant,” Indonesian Foreign Minister Retno Marsudi stated at the Bogor Presidential Palace on Wednesday.

Under the efforts to boost cooperation, both nations inked memoranda of understanding (MoUs) for cooperation in nine out of the 12 areas.

Foreign Minister Marsudi signed two MoUs on the protection of bilateral investment and the joint committee for consular affairs with UAE Home Affairs Minister Sultan bin Ahmed Aljaber.

In the defense sector, Defense Minister Ryamizard Ryacudu signed a Letter of Intent (LoI) with Sultan bin Ahmed Aljaber.

In the maritime and fishery sector, Minister of Maritime Affairs and Fisheries Susi Pudjiastuti signed an MoU with Sultan bin Ahmed Aljaber.

Finance Minister Sri Mulyani Indrawati signed an MoU on the avoidance of double taxation with Sultan bin Ahmed Aljaber, while an MoU on customs and excise duties was inked with Minister of Economic Affairs Sultan bin Saeed Almansoori.

In the tourism sector, Tourism Minister Arief Yahya inked an MoU with Sultan bin Saeed Almansoori.

Education and Culture Minister Muhadjir Effendy signed an MoU in the cultural sector with Minister of Culture and Knowledge Development Noura binti Mohamed Alkabi, while Industry Minister Airlangga Hartarto inked an MoU on industrial cooperation with Industry and Energy Minister Suhail bin Mohamed Almazrooi.

Both nations also signed three business-to-business MoUs, with one of them pertaining to the framework of comprehensive strategy between state oil and gas firm Pertamina and ADNOC.

The two other MoUs were signed by President Director of Chandra Asri Petrochemical Erwin Ciputra and CEO of petroleum and petrochemical investment company Mubadala Musabbeh Al Kaabi and between CEO of Maspion Alim Markus and CEO of DP World Sultan bin Sulayem in the presence of President Joko Widodo and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan.

“In total, the three business-to-business MoUs are valued at Rp136 trillion, or US$9.7 billion,” Marsudi confirmed.


For the latest news across the UAE, please visit our website for similar articles, or contact us today for an initial, private consultation. 


Source: Antara News