Indonesia and Saudi Arabia set to double trade by 2020

Indonesia’s Trade Ministry received a business delegation from Saudi Arabia last week, as the two countries announced a plan to double their bilateral trade value by 2020, according to a report published by The Jakarta Post.

The total trade between the two countries currently stands at a value of US$8.5 billion and is thought to leave plenty of room for expansion, according to the Indonesian Trade Ministry.

“The figures are yet to reflect the potential of both countries,” said Arlinda Imbang Jaya, Trade Ministry Expert for Trade Services.

Saudi Arabia is said to have expressed interest in cooperating with several Indonesian businesses in the fields of cosmetics, pharmaceutical products and medical equipment.