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Indonesia signed a partnership with companies in the UAE

21 October 2020 11:39

JAKARTA - Indonesian business actors are working in partnership with businesses based in the United Arab Emirates (UAE) to increase exports amid the Covid-19 pandemic. This collaboration was confirmed by signing a Memorandum of Understanding for Export and Import of Products and Trade Commodities between PT Perusahaan Perdagangan Indonesia (PPI) and two companies based in the United Arab Emirates (UAE), namely Al Buraq Investment L.L.C and Hong Kong Star Foodstuff Trading L.L.C. which was done virtually on Thursday (15/10).

"Market conditions that are full of challenges during a pandemic like this do not dampen the enthusiasm of Indonesian exporters to continue to penetrate markets in various countries. The signing of this memorandum of understanding proves that there are various ways that can be done to increase exports, including through direct market penetration and through cooperation with various parties in export destination countries," said Indonesian Trade Minister, Agus Suparmanto.

Director General of National Export Development Kasan added, this memorandum of understanding is one of the first steps to create synergy according to the competence of each party in exploring and opening up the market; find and verify buyers; take care of customs, labor and transportation, as well as warehousing.

In the January-August 2020 period, the total trade between Indonesia and UAE reached USD 1.90 billion. In that period, Indonesia's exports to the UAE were recorded at USD 833.10 million, meanwhile, Indonesia's imports from the UAE were USD 1.07 billion, where nearly 65 percent of Indonesia's imports from the UAE were imports of oil and gas products. (LM)

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