This potential collaboration was a key topic of discussion in Jakarta on Wednesday between Indonesian Industry Minister Agus Gumiwang Kartasasmita and Saudi Arabian Minister of Industry and Mineral Resources Bandar Alkhorayef.
"This global uncertainty is a shared concern. We need to carefully observe and identify the right policies to cushion ourselves against any measures that might come from the US. To navigate this uncertainty, we've agreed to deepen cooperation between our two nations," Minister Kartasasmita said after the meeting.
Noting the current trade volume of US$3.3 billion last year, which he considered modest, he pointed out the significant potential for Indonesia and Saudi Arabia to increase their collaboration.
He suggested that mutually beneficial cooperation could include the petrochemical sector and the development of the mineral sector.
He emphasized the importance of downstreaming in the petrochemical sector to support related industries, suggesting that Saudi Arabia could participate in developing mineral downstreaming.
"They've indicated their readiness to invest in Indonesia's mineral sector, including to secure their market presence within their overall investment strategy," Kartasasmita informed.
The two countries also discussed plans to formalize this enhanced cooperation through a memorandum of understanding (MoU), which will be drafted soon.
"This MoU will focus specifically on projects where Saudi Arabia and Indonesia have common interests, as well as projects that can yield quick and tangible results," he added.
Minister Alkhorayef also visited the state-owned mining industry holding company MIND ID to explore cooperation in mineral downstreaming and the transformation of the mining industry.
Both countries aim to encourage the creation of added value for minerals, not only for economic gain but also to foster sustainability and long-term resilience.
Translator: Ahmad Muzdaffar, Resinta Sulistiyandari
Editor: Aditya Eko Sigit Wicaksono
Copyright © ANTARA 2025
