MARKET DEVELOPMENT
Economic Diplomacy to Lead Stronger RI-UAE Ties
Economic Diplomacy to Lead Stronger RI-UAE Ties
03/12/2014 (Jakarta Post) - Economic diplomacy will be the priority for Indonesia’s strengthening relations with the United Arab Emirates in the future, with pledged changes and shifts in Indonesia’s investment bureaucracy hoping to realize better economic cooperation.
On the sidelines of the United Arab Emirates’ 43rd National Day celebrations, Deputy Foreign Minister A.M. Fachir said that the day should be seen as a chance to reflect upon Indonesia’s and the UAE’s bilateral relations in order to see what can be done next.
“We have to create momentum and reflect on our relations to see what we have achieved and what we can do next. Economic diplomacy will be a key priority in our relations and we will facilitate the needs in that field in order for economic relations to be more active,” Fachir told The Jakarta Post on Tuesday.
He added that the UAE was considered one of several “non-traditional” markets that have large potential for investment cooperation, and said that the government would make it easier for investors to invest in Indonesia through such actions as synergizing the economic regulations of the central and provincial governments.
“Hopefully the incentives that we have offered will help boost trade,” he said.
Indonesia’s main trade exports to the UAE include those in the automotive sector as well as crude palm oil.
Diplomatic relations between the two countries were forged in 1976 after Indonesia was one of the first countries to recognize the UAE’s independence in 1971. At the end of 2013, total trade between the two countries reached US$3.3 billion. (***)
On the sidelines of the United Arab Emirates’ 43rd National Day celebrations, Deputy Foreign Minister A.M. Fachir said that the day should be seen as a chance to reflect upon Indonesia’s and the UAE’s bilateral relations in order to see what can be done next.
“We have to create momentum and reflect on our relations to see what we have achieved and what we can do next. Economic diplomacy will be a key priority in our relations and we will facilitate the needs in that field in order for economic relations to be more active,” Fachir told The Jakarta Post on Tuesday.
He added that the UAE was considered one of several “non-traditional” markets that have large potential for investment cooperation, and said that the government would make it easier for investors to invest in Indonesia through such actions as synergizing the economic regulations of the central and provincial governments.
“Hopefully the incentives that we have offered will help boost trade,” he said.
Indonesia’s main trade exports to the UAE include those in the automotive sector as well as crude palm oil.
Diplomatic relations between the two countries were forged in 1976 after Indonesia was one of the first countries to recognize the UAE’s independence in 1971. At the end of 2013, total trade between the two countries reached US$3.3 billion. (***)