Dubai: Sheikh Mohammed meets Indonesian President, discusses bilateral relations

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister and Ruler of Dubai, met with Indonesian President Joko Widodo on Thursday.

The two sides discussed issues of mutual interests and ways to boost bilateral cooperation. They also discussed new avenues to enhance bilateral cooperation for the benefit of the people of the two nations.

The discussions further highlighted the importance of offering the private sectors of Indonesia and UAE opportunities to explore investment in both countries and launch joint companies.

Enhancement of trade between UAE and Indonesia was a key focus of the meeting. The UAE’s longstanding bilateral relationship with Indonesia is anchored on close cultural ties and a shared commitment to enabling greater economic development and prosperity between both countries.

The total value of the UAE’s non-oil trade with Indonesia in 2020 reached $2 billion and the country is seeking to increase trade volumes significantly in the coming years through the Indonesia - UAE Comprehensive Economic Partnership Agreement (IUAE-CEPA).

In the last five years, the total value of non-oil trade between Indonesia and the UAE exceeded $11 billion.

Current estimates indicate that opportunities to increase non-oil trade are promising, with an annual growth potential of $1.6 billion in several sectors, including jewellery, vegetable oil, automobiles and car parts, copper, rubber and aluminium.

The meeting also discussed regional and international developments, the progress made in combating the pandemic and efforts made in the UAE and Indonesia to accelerate development in the post-Covid phase.