UAE, Indonesia reviewing strengthening economic cooperation

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, led the UAE delegation to the UAE-Indonesia Business Forum, which was held Thursday in the capital, Jakarta.

During his visit to Indonesia, Al Mazrouei was received by President Joko Widodo, who expressed his country's welcome for the UAE's commitment to developing bilateral relations, affirming Jakarta's readiness to support all aspects of cooperation between the two countries.

For his part, Al Mazrouei conveyed the greetings of President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court and their wishes to Indonesia and its people for further progress and prosperity.

During his participation in the UAE-Indonesia Business Forum, Al Mazrouei reaffirmed the UAE's commitment to developing relations between the two friendly countries and enhancing areas of cooperation in various fields in a way that serves the common interest of both countries.

Al Mazrouei reiterated the readiness of the UAE and its national companies to contribute to a project to build a new Indonesian capital on the island of Kalimantan.

He congratulated the two friendly countries on the success of Masdar, one of the world’s leading renewable energy companies, and PT PJBI, a subsidiary of Indonesia’s state-owned electricity company PT PLN, in completing the Cirata Floating Photovoltaic Power Plant project in West Java, Indonesia. This project is the largest floating solar power plant in the world.

The Minister also noted that UAE companies are interested in more investment partnerships in the renewable energy sector in Indonesia, which, he said, has the capabilities and potential to become the green energy hub in Southeast Asia.

The business forum reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real estate, and aviation, in addition to discussing mechanisms and ways to expand regional cooperation and enhance opportunities for trade and investment cooperation between the two countries.

For his part, Coordinating Minister for Maritime Affairs and Investments of the Republic of Indonesia, Luhut Binsar Pandjaitan, stressed that the United Arab Emirates is a reliable strategic partner for Indonesia, calling on UAE and Indonesian companies to seize the investment opportunities available in the fields of oil refineries, renewable energy development, construction of the new Indonesian capital, ports and airports, energy and food security, national defence and satellites, environment and climate change.

Prabowo Subianto, Minister of Defence of Indonesia, hailed the steady progress in bilateral relations between the two countries, expressing his admiration for the insightful leadership approach of Sheikh Mohamed bin Zayed Al Nahyan.

Addressing the forum, Abdullah Salem Al Dhaheri, the UAE Ambassador to the Republic of Indonesia, Timor-Leste, and the Association of Southeast Asian Nations (ASEAN) called on the public and private sectors in the United Arab Emirates and Indonesia to take advantage of the entry into force of the UAE-Indonesia Comprehensive Economic Partnership Agreement on September 1, 2023, and the start of implementation of the sector-specific partnership between the United Arab Emirates and ASEAN.

He pointed out that these positive developments provide opportunities for more cooperation in many sectors such as renewable energy, infrastructure, strategic industries, health, digital education, creative economy, agriculture and food security, mangrove cultivation, and religious affairs.

During the forum's dialogue session, Juma Mohammed Al Kait, Assistant Undersecretary at the UAE Ministry of Economy for Foreign Trade Affairs reviewed the importance of the Comprehensive Economic Partnership Agreement with Indonesia.

During the forum, various investment opportunities in the economic sectors in Indonesia were reviewed, such as the export and import sector, fisheries, agriculture, real estate, pharmaceuticals, consumer goods, and oil & gas.

An extensive business meeting was held following the forum involving the government and private companies of the state and private companies in Indonesia, during which a number of investment projects between the two countries were discussed, especially in energy, tourism, and real estate, and increasing UAE investments in Indonesia.

The delegation accompanying the Minister of Energy and Infrastructure included a number of senior officials from UAE entities and companies, including the Ministry of Foreign Affairs, the Ministry of Economy, Emirates Global Aluminium, Mubadala Energy, ADNOC, Abu Dhabi Developmental Holding Company, Abu Dhabi Ports, Etihad Rail, Emirates Airline, Al Yasat, Lite Agro, Tawazun, Sanad, Lulu, Louis Dreyfus, and the Fujairah Chamber of Commerce and Industry.