Indonesia, Saudi Arabia Forge Monumental Business Partnership

(MENAFN) Indonesia and Saudi Arabia have formalized a monumental business partnership worth approximately 27 billion U.S. dollars, covering a broad spectrum of industries, including clean energy, petrochemicals, aviation fuel, healthcare, pharmaceuticals, and health technology.

The agreements, announced on Thursday in a statement by the Indonesian Presidential Secretariat, were signed by private sector representatives from both nations. The deal was officially recognized by Indonesian President Prabowo Subianto and Saudi Crown Prince Mohammed bin Salman during a high-level bilateral meeting held at the Al-Salam Palace in Jeddah on Wednesday.

In a joint statement, both leaders emphasized their shared commitment to furthering bilateral ties, particularly in the areas of investment, trade, and the burgeoning digital economy. They underscored the importance of enhancing collaboration between their respective private sectors.

The leaders also hailed progress in strengthening defense and security relations, particularly in areas such as counterterrorism, extremism prevention, cybersecurity, and the exchange of information and training.

Both President Subianto and Crown Prince Mohammed affirmed the need to intensify cooperation within multilateral forums, including the G20, the Organization of Islamic Cooperation, the International Monetary Fund, and the Non-Aligned Movement, to confront global challenges.

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