Indonesia-Saudi Arabia Committed to Increase Trade Cooperation
- Dok. Istimewa
VIVA – A bilateral meeting between the Minister of Trade of Indonesia, Zulkifli Hasan, and the Minister of Trade of Saudi Arabia, Majid bin Abdullah Al-Qasabi discussed increasing trade relations and cooperation between the two countries. The meeting took place in Al Ula, Medina, Saudi Arabia.
"Following the orders of Prince MBS, trade relations with Indonesia need to be improved. Saudi's proximity to Indonesia is an important capital that must have implications for the economic benefits of both countries." Majid bin Abdullah said, in his statement, Sunday, January 22, 2023.
Majid admitted that the cooperation between the two countries has not been maximized, "So far we are quite ashamed that cooperation with Indonesia has not been maximized. We will improve it in the future," he stated.
Menteri Perdagangan, Zulkifli Hasan bertemu dengan Menteri Perdagangan Arab Saudi, Majid bin Abdullah Al-Qasabi.
- Dok. Kemendag
In line with Majid bin Abdullah's statement, Zulkifli Hasan also emphasized the Indonesian government's desire to further strengthen trade cooperation between the two countries. By 2022, the Indonesia-Saudi trade balance will reach US$7 billion.
There is still a US$3 billion deficit. But if the oil and gas sector is deducted, the Indonesia-Saudi trade balance will have a US$1 billion surplus.
According to the Indonesian Minister of Trade, currently, the Indonesian government's commitment and hope are to strengthen the export aspect, "In addition, Indonesia also wants to make Saudi Arabia one of the main markets for products from Indonesian industries and MSMEs."
He revealed plans to build a modern retail center in Saudi Arabia, "With modern outlets in Saudi Arabia, the efforts of SMEs to market their products will be easier. This will certainly boost national export performance," he added.
After the bilateral meeting in Al Ula, Minister Zulfikar's entourage returned to Jeddah. Then on Monday, January 23, 2023, Zulhas and his entourage will continue their trip to the Saudi Food and Drug Authority (SFDA) office in the Al Hittin area. There they will hold a meeting with the Executive President of SFDA.
