Indonesia is an important trading partner for the UAEJakarta (ANTARA) - The Indonesian Chamber of Commerce and Industry (Kadin) and the Federation of United Arab Emirates (UAE) Chambers of Commerce and Industry are working in partnership to bolster trade, investment, and services between both nations.
"Moreover, both parties see various areas of potential that are mutually beneficial for both countries," Kadin Chairman Arsjad Rasjid noted in a written statement in Jakarta, Friday.
The commitment to cooperation was realized by the inking of an MoU in Bogor, West Java on Thursday (Sept 2).
Rasjid highlighted several strategic collaborations that are prioritized by referring to the current situation, including health issues, wherein Indonesia is encouraging development of the health and food security industry as well as development of the energy industry, such as solar energy.
"Kadin also hopes that both parties would increase cooperation in developing the capacity of MSMEs through link and match, with focus not only on cooperation between business actors but also support from the governments of the two countries," he remarked.
Rasjid believes that this cooperation would strengthen the cooperative relationship between the two countries as well as encourage recovery of the economy amid the pandemic.
In addition, Kadin and the UAE Chamber of Commerce and Industry will assist one another and participate in trade fairs, conferences or seminars related to trade, investment and the economy held in their respective countries.
"Another point that we agreed upon is that the two chambers must support each other and encourage the exchange of delegates conducting trade missions and industrial missions as well as visits by businessmen from both countries, both individually and in groups. Hence, when we or they visit, there are guarantees and conveniences," he stated.
Rasjid is optimistic that the cooperation between the two chambers, for a three-year period, will boost economic growth in the two countries.
He believes that Indonesia and the UAE are countries with fast and dynamic economic growth. Both countries have vast potential in the form of youth from the productive age group that play a significant role in changing the geopolitical and geoeconomic conditions in their respective regions.
Addressing businessmen, who are members of the chambers, Rasjid drew attention to several policy reforms conducted by President Joko Widodo, especially regarding the Job Creation Law that facilitate the investment climate in Indonesia to be stable, attractive, and investor-friendly.
"Indonesia has great potential for economic growth. We have a very large population of productive age, resilient, and quality human resources, and very rich natural resources, both on land and at sea. Hence, long-term investment in Indonesia is very promising," he affirmed.
Meanwhile, Chairman of the UAE Chamber of Commerce and Industry Abdullah M. Ali Ghanem Almazrui stated that the cooperation between the UAE and Indonesia would strengthen the economies of both countries.
"Indonesia is an important trading partner for the UAE. We hope that the memorandum of understanding between the Indonesian Chamber of Commerce and Industry and the UAE Chamber of Commerce and Industry would create new opportunities for entrepreneurs from both countries. Entrepreneurs from the UAE are very interested in investing in Indonesia as part of the efforts for accelerating economic recovery during the pandemic," he stated.
Currently, the UAE is one of the non-traditional export markets that has become an international trade hub to the Middle East, Africa, and Europe market destinations. The total trade between Indonesia and the UAE during the January-June 2021 period reached US$1.86 billion.
During that period, Indonesia's exports to the UAE were valued at US$0.85 billion. Indonesia's main export commodities to the UAE include palm oil, jewelry, iron tubes and pipes, cars and motor vehicles, as well as synthetic woven fabrics.
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Translator: Subagyo, Azis Kurmala
Editor: Sri Haryati
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