Over 70 Indonesian Companies Pursue Business Ventures In Dubai

Over 70 Indonesian companies are gearing up to make a significant impact at a trade mission organized by the Dubai International Chamber, a key entity under Dubai Chambers. This initiative is aimed at either establishing direct business ventures in Dubai or enhancing relationships with existing companies within Dubai and the UAE, thereby fostering stronger trade ties. The trade mission is a strategic move to leverage Dubai and the UAE's status as financial and logistical epicentres in the Middle East, known for their business-friendly policies.

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Indonesia has been a focal point of discussion among the Indonesian delegates. They anticipate that this agreement will serve as a catalyst for doubling trade and investment activities in the near future. According to Didi Sumedi, Director-General of National Export Development at the Indonesian Ministry of Trade, there has already been a notable increase in bilateral trade from US$4 billion in 2021 to over US$5 billion, with non-oil trade comprising approximately US$4 billion of this figure. Sumedi projects that CEPA will further accelerate growth in bilateral trade, highlighting sectors such as steel, chemicals, fertilisers, plastics, and paper products as key drivers of this expansion.

M Pradana Indraputra, Senior Advisor to the Minister on National Entrepreneurship Development of Indonesia, underscored the importance of the event in facilitating the exchange of information and fostering opportunities for bilateral cooperation. The participation of 17 companies from Dubai alongside more than 70 Indonesian firms underscores the event's significance in establishing direct partnerships through discussions and bilateral meetings.

Shinta Widjaja Kamdani, Coordinator Vice Chairwoman on Maritime, Investment, and Foreign Affairs at Kadin Indonesia, reflected on the synergies between the UAE and Indonesia. She pointed out that both nations share common denominators while also complementing each other's economies. Kamdani expressed optimism about the initiative taken by the Dubai International Chamber and voiced her hope for increased cooperation between Indonesian and UAE companies.

This trade mission not only highlights the growing economic ties between Indonesia and the UAE but also sets a precedent for future collaborations. With both nations keen on strengthening their economic positions regionally and globally, such initiatives are pivotal in unlocking new avenues for trade and investment.

With inputs from WAM