ABU DHABI, (Pakistan Point News - 05th Nov, 2021) Bilateral trade between the UAE and Indonesia witnessed a 27.78 percent upsurge to US$ 215 million during the first seven months of 2021, from US$ 168 million during the same period in 2021, according to Husin Bagis, the Indonesian Ambassador to the UAE.
In an interview with Emirates news Agency (WAM), Ambassador Bagis said: "Indonesia is among eight countries that the UAE wants to expand its economic and trade relations, as part of the Emirates’ Projects of the 50 initiative, and both countries have started negotiations in September on a Comprehensive Economic Partnership Agreement (CEPA)."
He noted that the CEPA is expected to be concluded in the first quarter of 2022, Bagis said, adding that it will pave the way for a leap in bilateral trade.
The UAE announced in March 2021 that it will invest US$10 billion in the Indonesia's sovereign wealth fund – Indonesia Investment Authority (IIA).
The IIA is preparing plans to accept the UAE’s investments, of which projects will be implemented accordingly, the ambassador said.
''We are planning to plant 10,000 mangrove saplings in Indonesia this year," said the Ambassador.
"Currently around 11,000 tourists from the UAE visit Indonesia annually but we want to increase that number up to 100,000 by next year," he added.
"At the moment less than 50 Indonesian students are studying in the UAE. We would like to increase that number to 500 by next year."
