Indonesia and UAE Strengthen Economic and Energy Ties during President's Visit
Key Ideas
- Indonesia and the UAE signed MoUs covering various sectors like tourism, culture, health care, energy, and technology during President Prabowo's visit to Abu Dhabi.
- Both countries aim to increase trade flow, with a target of reaching $10 billion in total value over the next years through comprehensive economic partnership agreements.
- The MoUs also include cooperation on biofuel, hydrogen technology development, mineral supply chain, and carbon capture storage to address energy challenges.
- The discussions between the two countries also focused on developing oil and gas blocks, clean energy supply, and cooperation between state-owned aluminum producers.
During President Prabowo Subianto's official visit to Abu Dhabi, Indonesia and the United Arab Emirates have solidified their economic and energy ties through the signing of several memorandums of understanding (MoUs). The MoUs cover a wide range of sectors including tourism, culture, health care, energy, technology, and industrial development. President Prabowo emphasized the importance of inviting the UAE to actively participate in Indonesia's economy, with a focus on ensuring food and energy security and downstream industrial development. Both leaders expressed optimism about increasing trade flow between the two countries, setting a target of $10 billion in total trade value. This partnership includes agreements on knowledge sharing in policy, cooperation in biofuel and hydrogen technology development, and collaboration on the mineral supply chain. Energy Minister Bahlil Lahadalia highlighted that this collaboration not only strengthens bilateral relations but also offers concrete solutions to domestic and global energy challenges. Discussions also revolved around accelerating oil and gas block development, clean energy supply for industrial estates, and collaboration between state-owned aluminum producers. The close ties between Indonesia and the UAE, fostered over the past decade, have resulted in significant partnerships, including the establishment of Indonesia Investment Authority (INA) and investments in solar energy projects.
Topics
Asia
Investment Opportunities
Industrial Development
Energy Cooperation
Trade Agreements
Economic Ties
Bilateral Relations
Latest News