Saudi Arabia - Indonesia agree to boost investment ties

Saudi Arabia and Indonesia agreed to promote stronger investment ties during Saudi Foreign Minister Prince Faisal bin Farhan’s visit to Jakarta.

The Kingdom is Indonesia’s largest trading partner in the Middle East and between 2016 and 2021 invested around $24.6 billion in the southeast Asian country. Bilateral trade volume was $5.5 billion in 2021, showcasing an increase of more than 40 percent on the previous year.

Indonesia also expressed its support for Saudi Arabia’s bid to host Expo 2030, for which the Kingdom’s foreign minister expressed his thanks, while also wishing the country success in hosting the G20 Leaders’ Summit 2022 which will take place in Bali in mid-November.

Source: Arab News