UAE, Indonesia discuss boosting economic ties at Expo

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The UAE Ministry of Finance and its Indonesian counterpart have discussed bolstering economic relations between both countries during their participation at Expo 2020 Dubai…reports Asian Lite News

The Ministry of Finance (MoF) participated in the Indonesian Ministry of Finance Week’s events, organised by the Indonesian Pavilion from 21st to 22nd December, 2021.

UAE, Indonesia discuss boosting economic ties at Expo

Mariam Mohammad Al Amiri, Assistant Under-Secretary for the Management of Financial Resources at MoF was briefed on the latest sustainable projects and methods of developing Islamic economic financing in Indonesia.

She also met with Husin Bagis, Ambassador of the Republic of Indonesia to the UAE, and Boby Wahyu Hernawan, Finance Attaché, Indonesian Embassy in the UAE; along with other officials from the MoF and the Government of Dubai’s Department of Finance.

Al Amiri noted that the UAE aims to expand its economic, trade and investment relations with Indonesia, to spur the business environment and promote investment, growth and prosperity. She said, “The UAE is keen to establish strategic economic partnerships with Indonesia and various promising markets globally, to build a new phase of sustainable growth during the next stage.”

Bagis said, “We have taken vital steps to consolidate cooperation with the UAE, as the Indonesian Government has seriously developed the syaria economy by setting up The National Committee of Islamic Economy and Finance (KNEKS) led directly by President Joko Widodo. These developments have flourished the syaria economy ecosystem in Indonesia, as indicated by the market share and its Sharia Human Capital Indexes. On the other hand, Bank Syariah Indonesia (BSI), the largest Islamic Sharia bank in Indonesia, is opening its first representative office in the Emirate of Dubai.”

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The Indonesian Ministry of Finance Week at Expo 2020 Dubai included several events, such as a talk show on sustainable projects to highlight such projects in the country and investment potentials and achievements in managing sustainable projects. In addition, a seminar was held on developing the Islamic economy and finance, discussing the importance of education in the field of Islamic economy and finance and boosting them between both countries.

Earlier this year, the UAE, with the Indonesia Investment Authority, invested more than US$10 billion to stimulate Indonesia’s economic growth across strategic fields such as energy, infrastructure, tourism, technology and food security.