His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, with Indonesian President Joko Widodo, in the presence of a host of dignitaries in Dubai today. Image Credit: Courtesy: Dubai Media Office

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, today met Indonesian President Joko Widodo at Expo 2020 Dubai today, in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.

Sheikh Mohammed bin Rashid and the Indonesian President witnessed the exchange of a series of memorandum of understandings (MoUs) and agreements between the two countries for cooperation in the sectors of financial services, investment, travel and energy, and the avoidance of double taxation. The meeting was also attended by Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Airline and Group, and Chairman of the Expo 2020 Dubai Higher Committee; Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council; Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum; and Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, and Commissioner General of Expo 2020 Dubai, apart from senior dignitaries and officials.

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The two sides discussed issues of mutual interests and ways to boost bilateral cooperation. They also discussed new avenues to enhance bilateral cooperation for the benefit of the people of the two nations. The discussions also highlighted the importance of offering the private sectors of Indonesia and UAE opportunities to explore investment in both countries and launch joint companies.

Enhancement of trade between UAE and Indonesia was the focus of the meeting. The UAE’s longstanding bilateral relationship with Indonesia is anchored on close cultural ties and a shared commitment to enabling greater economic development and prosperity between both countries. The total value of the UAE’s non-oil trade with Indonesia in 2020 reached $2 billion (Dh7.35 billion) and the country is seeking to increase trade volumes significantly in the coming years through the Indonesia-UAE Comprehensive Economic Partnership Agreement (IUAE-CEPA). In the last five years, the total value of non-oil trade between Indonesia and the UAE exceeded $11 billion.

The meeting also discussed regional and international developments, the progress made in combating the pandemic and efforts made in the UAE and Indonesia to accelerate development in the post-COVID phase. The two sides also discussed the importance of global cooperation in tackling climate change, which has seen the UAE working to deliver on climate action, as part of which it recently announced a plan for net-zero emissions by 2050.