Saudi Arabian, Indonesian businesses urged to find trade solutions

Jakarta (ANTARA) - Trade Minister Zulkifli Hasan called for Saudi Arabian and Indonesian concern players to question solutions to the 2 countries' commercialized issues done discussions successful the Indonesia-Saudi Arabia Business Forum & Networking.

"(It) turns retired (that) determination is simply a large connection spread betwixt traders implicit determination and our ain ample businesses. Maybe determination is simply a miscommunication oregon something, and this is what we effort to (address). Here, we person invited 10 large concern players from Saudi Arabia, and aboriginal tonight, we volition besides invitation 10 large concern players here," the curate stated present connected Monday.

He highlighted the nexus betwixt Indonesia and Saudi Arabia that has been formed since long, though to date, determination were nary important commercialized collaborations among the two.

The gathering betwixt concern players of the 2 countries serves arsenic the commencement of collaborative efforts, helium said. The curate opined that the 2 countries person immense commercialized imaginable since Saudi Arabia is presently pursuing improvement connected a monolithic scale.

Zulkifli expects respective commercialized sectors, peculiarly grocery, to penetrate Saudi Arabian markets.

He besides expected Indonesia to person the aforesaid accidental arsenic the United States, Europe, China, Japan, and South Korea erstwhile it comes to establishing concern successful Saudi Arabia.

"Hopefully, this tin beryllium the beginning, and determination is enactment from Saudi Arabia and from america too. Hopefully, we excessively tin amended bilateral relations, considering Saudi Arabia is simply a large state successful the Gulf, and Indonesia is the person of ASEAN," helium remarked.

According to Statistics Indonesia's information managed by the Trade Ministry, the worth of commercialized of non-oil and state products betwixt Indonesia and Saudi Arabia during the January-March 2023 play is capped astatine US$0.74 billion. The fig is an summation by 12.20 percent arsenic compared to the aforesaid play successful the erstwhile year, which was recorded astatine US$0.66 billion.

On the different hand, the worth of commercialized of non-oil and state products successful 2022 totaled US$2.93 billion. Of the figure, Indonesian exports to Saudi Arabia were recorded astatine US$2.02 billion, whereas imports from Saudi Arabia to Indonesia were valued astatine US$0.91 billion.

Products exported from Indonesia to Saudi Arabia scope from vehicles, thenar lipid and its derivatives to charcoal, fish, paper, and plywood. Indonesia imports ethylene glycol, sulfur, polypropylene, polyethylene, and alloy from Saudi Arabia.

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