Saudi Arabia and Indonesia signed a series of major agreements worth around $27 billion during the state visit of Indonesian President Prabowo Subianto to the Kingdom, according to a joint statement issued by the Saudi Press Agency.
The agreements cover key sectors including clean energy, petrochemicals, and aviation fuel services, underscoring the two countries’ intent to deepen economic cooperation.
President Prabowo was welcomed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, at Al-Salam Palace in Jeddah, where both leaders oversaw the signing of the agreements.
The deals were signed between leading companies and institutions from both countries and are aligned with the goals of Saudi Vision 2030 and Indonesia’s Golden Indonesia Vision 2045.
Both sides stressed the importance of expanding trade and investment ties, and agreed to develop mechanisms that facilitate the smooth flow of investments and reduce regulatory hurdles.
Trade between the two nations has totaled approximately $31.5 billion over the past five years, making Saudi Arabia Indonesia’s largest trading partner in the Middle East.
The two countries reiterated their commitment to increasing two-way trade, improving investment frameworks, and supporting business-to-business partnerships.
They also lauded the ongoing negotiations for a Free Trade Agreement between the Gulf Cooperation Council (GCC) and Indonesia, with hopes of finalizing the deal soon.
