The signing was conducted by Director General of National Export Development (PEN) Didi Sumedi with President of ITPO Alireza Peyman Pak during a visit of President of Iran Seyed Ebrahim Raisi to Indonesia at the invitation of Indonesian President Joko Widodo on May 23-24, 2023.
"Indonesia and Iran have established quite strong trade relations. By collaborating on trade promotions, Indonesia and Iran can introduce products and services to each other, thereby increasing business opportunities and bilateral trade volume," Sumedi noted in a written statement in Jakarta on Wednesday.
Sumedi explained that Indonesia and Iran agreed on several collaborations, including in the fields of energy, pharmaceutical and health products, food products, customs, bilateral trade facilitation, science and technology, and culture.
Strong trade promotion cooperation can create a conducive climate for bilateral investment between Indonesia and Iran in pursuit of mutual benefits.
This can also encourage product diversification offered by the two countries, improve the needs of each market, and identify opportunities to develop new export products.
Furthermore, the signing aims to strengthen organizational relations in increasing trade and investment between the two countries.
The scope of cooperation includes conducting exchange of trade information or trade opportunities, exchange of trade missions or buying missions, exchange of experts, and trade promotion activities as well as participating in trade shows in each country.
"Through the trade promotion cooperation, Indonesia and Iran can share market knowledge and relevant business information. This includes consumer trends, market preferences, trade regulations, and government policies. This knowledge can help companies from both countries make better decisions and reduce risks in trading," Sumedi remarked.
ITPO is an organization under the Ministry of Industry, Mining, and Commerce of Iran. Initially, a joint agreement on trade promotion cooperation was proposed by the ITPO.
The cooperation agreement is valid for a two-year period since being signed and can be automatically extended if both parties still need related programs and activities.
"In a changing global context, economic cooperation can be the basis for building stronger and mutually beneficial relations between the two countries. For this reason, cooperation between the government and the private sector also plays an important role in facilitating effective trade promotion cooperation between Indonesia and Iran," Sumedi remarked.
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Translator: Maria Cicilia Galuh, Cindy Frishanti Octavia
Editor: Rahmad Nasution
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