Saudi Arabia and Indonesia Announce Massive Economic Partnership with $27 Billion Deals during Indonesian President's Visit

Riyadh witnessed the signing of several agreements and memoranda of understanding between the Kingdom of Saudi Arabia and the Republic of Indonesia worth approximately $27 billion, covering various strategic areas such as clean energy, petrochemical industries, and aviation fuel services.

This came during the visit of Indonesian President Prabowo Subianto to the Kingdom, where he met with Saudi Crown Prince Mohammed bin Salman in an official session of talks, during which they reviewed the historical relations between the two countries and ways to develop them in all fields.

Both sides praised the strength of their economic ties, emphasizing the importance of enhancing cooperation, especially in priority sectors, and supporting partnerships between the private sectors of both countries, seizing the opportunities presented by Saudi Vision 2030 and Indonesia's Golden Vision 2045 to enhance mutual cooperation.

The two parties also highlighted that bilateral trade volume reached around $31.5 billion over the past five years, making Riyadh Indonesia's top trading partner in the region.

They also emphasized the importance of continuing joint efforts to develop trade exchange volume and intensify reciprocal visits between officials in both the public and private sectors, and holding trade events through the Saudi-Indonesian Business Council to explore promising opportunities and turn them into tangible partnerships.

Both parties also stressed the importance of enhancing mutual cooperation in international organizations such as the IMF, World Bank, and Islamic Development Bank, to achieve multi-party cooperation in addressing the economic challenges facing both countries and the world.

At the end of the visit, the two countries issued a joint statement affirming their respect for the sovereignty and territorial integrity of the Syrian Arab Republic, and rejecting any interference in its internal affairs.

They welcomed the announcements by the governments of the United States, United Kingdom, and European Union to lift the sanctions imposed on Syria, considering it a positive step towards the reconstruction of Syria, achieving stability, and creating conducive conditions for the return of refugees and building state institutions.

The Indonesian side praised the efforts of the Kingdom in this regard, and both countries reiterated their support for all efforts aimed at achieving security and stability in Syria, expressing their rejection of any practices that violate its sovereignty, including the repeated Israeli attacks on Syrian territories.