Saudi Arabia and Indonesia have signed a memorandum of understanding to deepen collaboration in mining and minerals, according to the Saudi Press Agency. His Excellency Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, and His Excellency Bahlil Lahadalia, Indonesia’s Minister of Energy and Mineral Resources, formalized the agreement in Jakarta.
The partnership is set to promote knowledge exchange in mining, mineral production, exploration, geological surveys, and sustainable practices. The signing took place during His Excellency Bandar Alkhorayef’s official visit to Indonesia, where he led a senior delegation to explore investment opportunities in mining, food, pharmaceuticals, and automotive industries.
In Jakarta, His Excellency Bandar Alkhorayef also met with His Excellency Agus Gumiwang Kartasasmita, Indonesia’s Minister of Industry, to discuss expanding economic ties and attracting foreign investment. Both countries aim to strengthen their downstream industries and foster trade growth.
Highlighting Saudi Arabia’s Vision 2030 and industrial strategies, His Excellency Bandar Alkhorayef emphasized the Kingdom’s incentives for investors and encouraged Indonesian businesses to consider opportunities in Saudi Arabia. He also invited the Indonesian minister to the Future Minerals Forum in Riyadh, a global event focused on the minerals sector.
Further boosting trade relations, the Saudi Export-Import Bank signed an agreement with the Indonesia Eximbank to enhance cooperation, support joint projects, and promote best practices in export credit. Meetings between Saudi EXIM and Indonesian financial institutions aimed to expand trade and support Saudi non-oil exporters in reaching new markets, particularly in the Middle East and Africa.
This series of agreements and meetings underscores both nations’ commitment to building stronger economic and industrial partnerships.
