Indonesia and Saudi Arabia set to double trade by 2020
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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.
Questions & Answers
Q.What is the current value of trade between Indonesia and Saudi Arabia?
What is the current value of trade between Indonesia and Saudi Arabia?
The total trade between Indonesia and Saudi Arabia is currently valued at US$8.5 billion. Both countries believe this figure has significant room for growth given their potential.
Q.Which specific sectors has Saudi Arabia shown interest in for cooperation with Indonesian businesses?
Which specific sectors has Saudi Arabia shown interest in for cooperation with Indonesian businesses?
Saudi Arabia has expressed interest in cooperating with Indonesian businesses in three key fields. These are cosmetics, pharmaceutical products, and medical equipment.
Q.Who commented on the current trade figures between the two countries?
Who commented on the current trade figures between the two countries?
Arlinda Imbang Jaya, the Trade Ministry Expert for Trade Services, commented on the trade figures. She stated that the current figures do not yet reflect the full potential of both nations.
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