15:22 | 10/05/2016 Global Economy
Indonesia and Saudi Arabia have agreed to double their two-way trade value by 2020.
According to the Indonesian Trade Ministry, the two-way trade amounted to 8.5 billion USD in 2015. Indonesian exports to Saudi Arabia reach 3.35 billion USD in 2015, while imports were worth 5.14 billion USD.
The total trade between the two countries is expected to increase 15 percent a year in the coming time.
Trade Ministry expert for trade services Arlinda Imbang Jaya said a Saudi business delegation was in Indonesia this week to learn about the market and seek business and cooperation opportunities with Indonesian businesses.
Saudi Arabia expressed its interest in cooperating with various business players including those running professional nursing care, producing pharmaceutical products, cosmetics and medical equipment.
According to the official, Saudi Arabia is ready to facilitate and help Indonesian companies to expand their businesses in Saudi Arabia.
Indonesia’s main export commodities to Saudi Arabia are textile products, cars, palm oil, tuna, rubber and rubber products, plywood, paper and paper products, pulp and charcoal./.