UAE President arrives in Indonesia to attend G20 summit

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Sheikh Mohamed joins Indonesian president in inaugurating the Sheikh Zayed Grand Mosque, named to laud the UAE’s founding father…reports Asian Lite News

UAE President Sheikh Mohamed bin Zayed Al Nahyan has arrived in Indonesia to attend the G20 summit. Sheikh Mohamed and the delegation were received by Indonesian President Joko Widodo, at the Solo airport.

The UAE President was invited to attend the summit by Indonesia, which holds the current G20 presidency.

The G20 is a platform comprising 19 countries and the European Union, which aims to address major issues related to the global economy. This year, the summit will take place in Bali, Indonesia on November 15-16, and will be chaired by the Indonesian president.

The UAE President was accompanied by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan; and Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Special Affairs Advisor at the Presidential Court, official news agency WAM reported.

Sheikh Mohamed also joined the Indonesian president in inaugurating the Sheikh Zayed Grand Mosque, named to laud the UAE’s founding father.

Taking to Twitter Sheikh Mohamed wrote that the Summit provides an important platform to discuss the opportunities and challenges facing the world today. He also said that the UAE is looking forward to engaging in constructive dialogue to support sustainable growth.

He wrote: “The G20 Summit in Bali, Indonesia provides an important platform to discuss the opportunities and challenges facing the world today. The UAE looks forward to engaging in constructive dialogue to support sustainable growth and shared progress for all countries and their people.”

Meanwhile, Arshad Rasheed, President of the Chamber of Commerce and Industry, has expressed his pride in the UAE’s participation at the G20 Leaders’ Summit meetings, praising the cooperation and the strong relations between the UAE and Indonesia.

In a statement to the Emirates News Agency (WAM) on the sidelines of the G20 summit in Bali, Indonesia, Rasheed also expressed his hope to attract more Emirati investments to his country.

The total non-oil trade exchange between the UAE and Indonesia, from 2012 to 2021, amounted to $24 billion (AED86.9 billion).

The volume of intra-non-oil trade grew during the first nine months of this year, with an increase of 33% compared to the same period in 2021, and record growth of 104% compared to the same period in 2020.

The UAE is among the 20 largest trading partners of Indonesia and the second-largest trading partner in the Arab world.

In conjunction with the Business 20 (B20) Summit, which is part of the G20 Summit, the Ministry of Economy organised the UAE Business Forum on Saturday in cooperation with the Indonesian Chamber of Commerce and Industry to discuss prospects for cooperation. The two countries signed 16 cooperation agreements between companies from both sides.

Meanwhile, Indonesian Ambassador to the UAE Husin Bagis expressed the importance of the UAE’s participation at the Summit, especially being a leader in priority issues facing world. “We believe that the UAE will contribute to reaching concrete results at the G20 this year, to benefit the world economy. We all know the UAE is indeed one of the countries that lead in the three priority issues (Global Health Architecture, Digital Transformation, and Sustainable Energy Transition),” he said.

One notable partnership between the UAE and Indonesia was the signing of the Indonesia-UAE CEPA (Comprehensive Economic Partnership Agreement) on July 1, 2022. It is projected to enhance trade balance between the two countries to$10 billion in the next few years. “The IUAE CEPA is expected to be Indonesia’s entry point to the UAE, which is a hub for increasing exports to potential export destination countries such as the Middle East, Africa, Central Asia, and South Asia,” Bagis explained.

According to the agreement, Indonesia will get 0% (tariff-free) for the exporting products of gold, tyres, spare parts, automotive accessories, car batteries, solar batteries, palm oil, jewellery, paper, rubber, and spices.

“In addition to strong economic ties, Indonesia, the most populous Muslim country in the world, and the UAE are highlighting shared common values regarding moderate Islam and a readiness to work together to promote tolerance and fight against religious extremism,” Bagis added.

UAE launches business forum

The UAE Business Forum was last week in Bali, Indonesia, on the sidelines of the annual G20 meeting.

The forum, which brought together business leaders from both countries, was launched to explore emerging opportunities for cooperation between the business communities, and resulted in the signing of 16 Memoranda of Understanding (MoUs).

The forum was one of the first major investment conferences to take place since the signing of the UAE-Indonesia Comprehensive Partnership Agreement in July, and which is likely to be ratified in the coming weeks.

Among the 16 MoUs was a deal between G42 and its subsidiaries Presight.ai and G42 Healthcare with Indonesian healthcare AI firm Asaren, while Burjeel Holding Group signed an MoU to develop a healthcare facility through a strategic partnership with the Indonesian Mitra Jaya Group.

Etihad Airways, GAL/AMMROC and Sanad signed in MoUs in aircraft maintenance, with MoUs on electric mobility and defence agreements signed by BarQ EV and Lahab respectively.

Seven additional MoUs were signed around cooperation on the organisation of the 2023 Annual Investment Meeting in Indonesia in 2023.

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