"(It) turns out (that) there is a big communication gap between traders over there and our own large businesses. Maybe there is a miscommunication or something, and this is what we try to (address). Here, we have invited 10 big business players from Saudi Arabia, and later tonight, we will also invite 10 big business players here," the minister stated here on Monday.
He highlighted the link between Indonesia and Saudi Arabia that has been formed since long, though to date, there were no significant trade collaborations among the two.
The meeting between business players of the two countries serves as the start of collaborative efforts, he said. The minister opined that the two countries have vast trade potential since Saudi Arabia is currently pursuing development on a massive scale.
Zulkifli expects several trade sectors, particularly grocery, to penetrate Saudi Arabian markets.
He also expected Indonesia to have the same opportunity as the United States, Europe, China, Japan, and South Korea when it comes to establishing business in Saudi Arabia.
"Hopefully, this can be the beginning, and there is support from Saudi Arabia and from us too. Hopefully, we too can improve bilateral relations, considering Saudi Arabia is a big country in the Gulf, and Indonesia is the leader of ASEAN," he remarked.
According to Statistics Indonesia's data managed by the Trade Ministry, the value of trade of non-oil and gas products between Indonesia and Saudi Arabia during the January-March 2023 period is capped at US$0.74 billion. The figure is an increase by 12.20 percent as compared to the same period in the previous year, which was recorded at US$0.66 billion.
On the other hand, the value of trade of non-oil and gas products in 2022 totaled US$2.93 billion. Of the figure, Indonesian exports to Saudi Arabia were recorded at US$2.02 billion, whereas imports from Saudi Arabia to Indonesia were valued at US$0.91 billion.
Products exported from Indonesia to Saudi Arabia range from vehicles, palm oil and its derivatives to charcoal, fish, paper, and plywood. Indonesia imports ethylene glycol, sulfur, polypropylene, polyethylene, and steel from Saudi Arabia.
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Translator: Maria Cicilia G P, Mecca Yumna
Editor: Azis Kurmala
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