Saudi minister concludes Indonesia visit with new partnerships in industrial sectors

Minister of Industry and Mineral Resources Bandar Al Khorayef has concluded an official visit to Indonesia aimed at advancing bilateral trade and fostering deeper cooperation

 

Discussions focused on expanding trade and investment opportunities, accelerating downstream industrial development, and leveraging expertise in mining and manufacturing to support economic diversification in both nations.

 

Al Khorayef also met with leading Indonesian business figures and corporations, including pharmaceutical producer BioPharma, food and beverage giants Mayora Indah and Indofood  These engagements explored joint ventures, technology transfer, and knowledge-sharing opportunities.

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Key outcomes of the visit included the signing of a Memorandum of Understanding (MoU) between Saudi Arabia and Indonesia to strengthen collaboration.

 

Both countries are pursuing ambitious transformation agendas. Indonesia, Southeast Asia’s largest economy, ranked 12th globally in Manufacturing Value Added (MVA) in 2023, reaching $255 billion.

 

Saudi Arabia, ranked as the world’s second-fastest-growing economy by the IMF in 2025, continues to advance its Vision 2030 goals, with major emphasis on industrial expansion and mineral exploitation—estimated at $2.5 trillion in untapped resources.

 

Bilateral trade between the two countries remains strong, with non-oil trade reaching $3.18 billion in 2023.

 

 

Source: The Saudi Gazette