16 MoUs signed between UAE and Indonesia

10x Industry

Mita Srinivasan
10x Industry
Published:

16 MoUs signed between UAE and Indonesia

The boom in UAE-Indonesia relations was reflected in the growth of non-oil trade to a record US$2.8 billion in the first nine months of 2022, an increase of 33 percent compared to the same period of 2021, and a record growth of 104 percent compared to the same period of 2020. The UAE is among the top 20 trading partners of Indonesia and its second largest trading partner in the Arab world.

The UAE Business Forum held on the sidelines of the annual G20 meeting resulted in the signing of 16 MOUs. Among the 16 MOUs was a deal between G42 and its subsidiaries Presight.ai and G42 Healthcare with Indonesian healthcare AI firm, Asaren, while Burjeel Holding Group signed an MOU to develop a healthcare facility through a strategic partnership with the Indonesian Mitra Jaya Group. Etihad Airways, GAL/AMMROC and Sanad signed MOUs in aircraft maintenance, with MOUs on electric mobility and defence agreements signed by BarQ EV and Lahab respectively. A further seven MOUs were signed around cooperation on the organization of the 2023 Annual Investment Meeting in Indonesia in 2023.

The forum, led by H.E. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, H.E. Ahmed Ali Al Sayegh, Minister of State, and H.E. Luhut Binsar Pandjaitan, Indonesian Coordinating Minister for Maritime Affairs and Investment as well as a group of senior officials, brought together business leaders from UAE and Indonesia to explore emerging opportunities for cooperation between the business communities. The Forum was one of the first major investment conferences to take place since the signing of the UAE-Indonesia Comprehensive Partnership Agreement in July, likely to be ratified in the coming weeks.

H.E. Dr. Thani Al Zeyoudi said: “UAE-Indonesia relations have always been strong since their inception, but they have enjoyed additional momentum in recent years, with the establishment of constructive partnerships in vital sectors. Today’s MOUs go to show how our Comprehensive Economic Partnership Agreement has injected even more dynamism into our business relationships.”

The UAE Business Forum in Indonesia aims to be a platform for networking and exchange of experiences between the business communities in the UAE and Indonesia. It also seeks to explore trade and investment opportunities in light of the upcoming implementation of the Comprehensive Economic Partnership Agreement.. At the end of the forum, a number of cooperation agreements were signed between companies from both sides.

The boom in UAE-Indonesia relations was reflected in the growth of non-oil trade to a record US$2.8 billion in the first nine months of 2022, an increase of 33 percent compared to the same period of 2021, and a record growth of 104 percent compared to the same period of 2020. The UAE is among the top 20 trading partners of Indonesia and its second largest trading partner in the Arab world, while the value of investment agreements signed between the two parties reached more than $32bn since 2019.