President of the Republic of Indonesia H.E. Joko Widodo begins his two-day state visit to the UAE this week, with the expectation to further strengthen bilateral trade across the financial and energy sectors.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan led the welcoming reception for His Excellency and the accompanying delegation upon their arrival at the Presidential Airport in Abu Dhabi.
Also present to welcome the Indonesian President were H.H. Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Presidential Court; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, Head of Honorary Mission accompanying the Indonesian President; and Abdulla Salem Al Dhaheri, UAE Ambassador to the Republic of Indonesia.
The state visit by President Joko Widodo of Indonesia marks a significant milestone in enhancing relations between the two countries, crowning a 47-year journey of cooperation and friendship between Abu Dhabi and Jakarta.
Both countries are expected to strengthen partnerships across the energy and financial sectors. Key areas include energy, renewable energy, tourism, aviation, agriculture, food security, infrastructure, transportation, health, artificial intelligence, education, and culture.
Sheikh Abdullah highlighted that Emirati-Indonesian ties have significantly grown within multilateral organisations and initiatives, including the partnership within the G20 under Indonesia’s presidency in 2022 and India’s in 2023, as well as cooperation to support the Pandemic Fund under the G20 initiative.
He also commended Indonesia’s support for the UAE’s joining the Association of Southeast Asian Nations (ASEAN) as a sectoral dialogue partner and the continued cooperation to strengthen this partnership.
Economically, the UAE-Indonesia bilateral trade has exceeded AED100 billion over the past ten years. Non-oil trade between the two countries from 2014 to 2023 reached approximately AED101.91 billion, with consistent growth in recent years.
The ratification of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries has exceptionally boosted economic relations and bilateral trade, reflected in the trade value which exceeded AED16 billion, marking a 7.2 percent increase compared to 2022.
The UAE-Indonesia CEPA, signed in Abu Dhabi in July 2022, is projected to boost non-oil trade to more than US$10 billion within five years, from approximately USD 3 billion in 2021. This will be achieved by reducing or eliminating tariffs on various goods and services, creating new opportunities for exporters and businesses from both countries.
According to the Ministry of Economy, jewellery and precious metals top the trade list, followed by cars, gold, palm oil and derivatives, and mobile phones.
The Mohamed bin Zayed-Joko Widodo International Mangrove Research Centre, in collaboration with Indonesia, is a result of the UAE’s USD 10 million commitment to nurturing mangrove ecosystems, recognised as a critically important nature-based solution in combatting climate change and preserving coastal ecosystems.
