Sharjah Chamber, Ambassador of Indonesia discuss bolstering trade and investment relations

(MENAFN- Misbar Communications) Sharjah, August 8, 2024
The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to boost economic cooperation with the Embassy of the Republic of Indonesia in the UAE.
Discussions delved into prospects for strengthening trade and investment relations between the private sectors of the UAE, particularly the emirate of Sharjah, and Indonesia. Leveraging the Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries, the talks also focused on fostering business-to-business cooperation and promoting participation in international exhibitions hosted by both nations.
The talks were held during a business meeting between H.E Abdallah Sultan Al Owais, Chairman of SCCI, and H.E. Husin Bagis, the Indonesian Ambassador to the UAE.
Also present at the meeting that took place at the Sharjah Chamber's headquarters were H.E Mohammed Ahmed Amin Al Awadi, Director-General of the Chamber, and Fatima Khalifa Al-Muqrab, Head of the International Relations Department at SCCI, along with other officials from both sides.
During the meeting, the Sharjah Chamber, represented by the Sharjah Exports Development Center (SEDC), received an official invitation to attend the 39th Trade Expo Indonesian exhibition, hosted by the Indonesian Ministry of Trade from October 9th -12th, 2024.
The meeting also discussed the preliminary preparations for Sharjah's participation in the 40th version of Trade Expo Indonesia to represent the emirate on a larger scale.
H.E Abdallah Sultan Al Owais emphasised the importance of strengthening economic and trade ties with Indonesia, one of the largest economies in Southeast Asia. He highlighted the advantages offered by the Comprehensive Economic Partnership Agreement between the UAE and Indonesia, which paves the way for expanded investment collaboration and facilitates the exchange of expertise and knowledge between the two countries.
The UAE-Indonesia CEPA, which came into effect on September 1, 2023, serves as a solid foundation for strengthening bilateral economic relations. The agreement ambitiously aims to enhance the bilateral trade between the two countries and raise its total value from around $3 billion in 2021 to over $10 billion annually within five years.
It also aims to expedite key investment projects exceeding $10 billion in priority sectors such as agriculture, energy, infrastructure, and logistics, in addition to fostering future cooperation in areas such as tourism, entrepreneurship, and healthcare.
Al Owais stressed that active participation in trade exhibitions and economic events hosted by Sharjah and Indonesia is a fundamental pillar for deepening bilateral cooperation and fostering mutual growth.
During the gathering, the two sides explored the possibility of organising an informative investment seminar next year in collaboration between the Sharjah Chamber and the Indonesian Trade Promotion Center in Duba.
The seminar would aim to promote the investment opportunities available in various key business sectors in both Sharjah and Indonesia, while leveraging the facilitation and advantages provided by CEPA terms.
The meeting concluded with a call to action for the business communities in both countries, urging them to capitalize on the available opportunities to reinforce cooperation between the two sides.
Such efforts are expected to significantly contribute to sustainable economic growth and prosperity in both countries across various fields, including trade and investment.

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