GCC-Indonesia economic ties deepen with Saudi MoUs, joint Qatar fund
Trade between Indonesia and the Gulf is rising and negotiations are underway for a GCC-Indonesia free trade agreement.
Economic ties between the Gulf and Indonesia deepened this week as Saudi Arabia and Qatar signed significant agreements with the Southeast Asian nation.
What happened: Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef concluded a two-day trip to Indonesia Thursday. He held several meetings in Jakarta aimed at expanding industrial and mining cooperation.
Several agreements were sealed during the trip, including a Memorandum of Understanding for mining cooperation, which was signed on Thursday in the presence of Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia to promote strategic collaboration and the exchange of expertise in mining and mineral resources.
A joint press statement said the deal will increase cooperation in areas including mineral exploration, geological surveying, sustainable mining practices, mineral production and processing, and the development of modern technologies for the mining and metallurgical industries.
