Saudi Arabia’s Minister of Industry and Mineral Resources Visits Indonesia to Deepen Bilateral Cooperation
His Excellency Bandar Al-Khorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, is set to visit Indonesia, highlighting the growing partnership between the two nations. This official trip aims to deepen cooperation in the industrial and mining sectors, with bilateral trade surpassing US$6 billion in 2023, according to the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia.
During the visit, His Excellency will engage with top Indonesian officials, including the Minister of Energy and Mineral Resources and the Minister of Industry. Meetings with private sector leaders, such as the CEO of PT Vale Indonesia and the CEO of BioPharma, are also planned to discuss strategic collaborations.
The focus of this engagement is to strengthen ties in mining, pharmaceuticals, automotive, and food industries. Indonesia’s mineral fuel exports reached US$67 billion, while imports were US$38 billion last fiscal year, presenting significant opportunities for mutual growth.
The Kingdom of Saudi Arabia, through its private sector, holds investments in Indonesian companies like Vale Indonesia, a leading nickel producer vital for electric vehicle batteries. These investments align with the Kingdom’s Vision 2030, supporting renewable energy and clean technology initiatives.
Trade between the two countries continues to grow, with Indonesian exports to the Kingdom of Saudi Arabia valued at US$4 billion and imports exceeding US$2 billion in 2023. Indonesia’s Indofood has also made a notable impact in the Kingdom of Saudi Arabia’s food sector, with its instant noodles widely available since 1986.
A key area of collaboration is the Jeddah Food Cluster, positioned as a regional halal food hub, which complements Indonesia’s role as the world’s largest halal market. In December 2023, both countries signed a Memorandum of Understanding to enhance halal product certification and ease market access, as reported by the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia.
His Excellency Bandar Al-Khorayef’s visit signals a new chapter in the bilateral relationship, focusing on innovation, sustainable development, and expanding cooperation in sectors such as renewable energy and infrastructure. Through increased trade, investment, and strategic partnerships, the Kingdom of Saudi Arabia and Indonesia are working toward shared economic progress and long-term prosperity.
