The UAE and Indonesia signed several agreements and memoranda of understanding (MoU) in key sectors, such as diplomatic cooperation, digital financial innovation, and mutual recognition of certificates of seafarers' competency.
Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Ruler of Dubai witnessed with Indonesian President Joko Widodo the exchange of a series of MoUs and agreements between the two countries for cooperation in financial services, investment, travel, and energy, and the avoidance of double taxation.
The two countries also exchanged documents of ratification of the Agreement for Promotion and Reciprocal Protection of Investment, the revised Double Taxation Avoidance Agreement, and the amendment of the Safe Travel Corridor.
Abu Dhabi Fund for Development signed an investment agreement with Indonesia Investment Authority (IIA).
Sheikh Mohammed stressed his country's aspiration to push forward the partnership within various sectors that support the development trends in the two countries.
Sheikh Mohammed said he hoped cooperation between the nations would increase, adding on his Twitter account: "The value of our trade with them was Dh7billion in 2020, and we want to double our cooperation with them as a strategic partner to reach new heights."
The two parties discussed ways to develop their bilateral partnership given the strong relations that bring them together at various political, economic, and cultural levels.
The bilateral cooperation ties witnessed a remarkable development during the past period, supported by mutual visits at the leadership and senior officials.
UAE and Indonesian leaderships aim to take their partnership to higher levels of coordination and constructive interaction that serve the interests of the two peoples and support the ambitious development directions of both sides.
The meeting also addressed enhancing bilateral cooperation within various economic and technical sectors, including trade exchange which grew during the past few years.
UAE's non-oil foreign trade with Indonesia reached $2 billion during 2020. The total non-oil trade exchanges between the two countries exceeded $11 billion in the last five years.
The two sides discussed issues of mutual interests and ways to boost bilateral cooperation.
The discussions also highlighted the importance of offering Indonesia and UAE private sectors opportunities to explore investment in both countries and launch joint companies.
