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UAE, Indonesia Sign Comprehensive Partnership Agreement

UAE, Indonesia Sign Comprehensive Partnership Agreement

Saturday, 2 July, 2022 - 07:15
The Emirati and Indonesian presidents during the signing of the comprehensive agreement. (WAM)

UAE President Sheikh Mohammed bin Zayed Al Nahyan held talks with his Indonesian counterpart, Joko Widodo, in Abu Dhabi on Friday.


Discussions tackled bilateral ties and various aspects of joint cooperation in the fields of investment, economy and trade to support the sustainable development efforts and achieve the aspired prosperity and progress.


Both leaders exchanged views on several regional and international developments and issues of common interest.


They also witnessed the signing of the UAE-Indonesia Comprehensive Economic Partnership Agreement.


The agreement with Indonesia is the third the UAE signs this year, following those with India and Israel in February and May, respectively.


It is designed to increase annual bilateral trade to $10 billion within five years by removing trade barriers on a wide range of goods and services, creating new opportunities for UAE exporters.


Sheikh Mohammed said Indonesia is one of the UAE’s closest strategic allies, noting that both countries have worked together in the spirit of cooperation and unity for decades to promote social and economic development and unlock opportunities for both peoples.


He expressed hope that this agreement creates a new platform for cooperation, investment and knowledge transfer and offer both sides new tools to navigate future challenges and opportunities together.


“Like all our new trade deals, this is part of a dynamic plan to build a network of trade alliances with some of the world’s fastest growing economies. This will set us on the path to prosperity outlined in our Projects of the 50 initiative that aims to make the UAE a truly global business hub," His Highness Sheikh Mohamed bin Zayed added.


Sheikh Mohammed said that the agreement is part of a dynamic plan to build a network of trade alliances with some of the world’s fastest growing economies.


Widodo, for his part, said the agreement is a culmination of the distinguished historical relations between the two countries and their continuous efforts to advance these relations to a broader and more comprehensive level.


He stated that the agreement reflects an ambitious leap in cooperation between the two countries and a solid base that will push the bilateral ties to a new, more prosperous stage of faster development that will meet the aspirations of the two friendly peoples.


The president expected the deal to contribute to doubling the bilateral trade value in the future.


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