Friday, July 1, 2022 – 8:28 PM
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Providing 50,000 job opportunities for high-skilled people by 2030.
ABU DHABI, 1st July / WAM/ His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that the comprehensive partnership agreement between the UAE and Indonesia, which was announced today, is an integrated agreement that includes the liberation/reduction and cancellation/ of 99% of the goods of trade exchange between the two countries. This contributes to stimulating bilateral trade exchange, in addition to the governance of procedures to reduce the impact of any decisions affecting the ease and facilitation of trade exchange between the two countries.
In a statement to the Emirates News Agency, WAM, he added that by 2030, this agreement is expected to add up to $4.6 billion to the gross domestic product, a growth in exports of $3.2 billion, a growth in imports of $2.6 billion, and a saving of nearly 50,000 A high-skilled job by 2030.
His Excellency continued: “The UAE continues to conclude comprehensive economic agreements within the program of economic agreements announced within the “fifty projects” with the aim of removing or reducing customs duties bilaterally with a selected group of markets of strategic importance regionally and globally,” explaining that the comprehensive agreement with Indonesia comes within “projects”. The fifty “which aims to open new markets for UAE services, companies and goods in countries with significant growth around the world, pointing to the economic expectations that Indonesia will enter the list of the seven major emerging economies E7 by 2050.
The comprehensive agreement with Indonesia also provides a great opportunity for the UAE service sector to access the Indonesian market, cooperate in the digital economy sector, which is witnessing significant growth, benefit from advanced Indonesian skills and capabilities in this field, and enhance investments between the two countries.
He added that the agreement includes cooperation in the halal food sector, Islamic fashion, the pharmaceutical sector, and other sectors concerned with the Islamic economy, noting that the UAE and Indonesia are among the five most important countries in the Islamic economy.
Al Zeyoudi said: “We are monitoring the growth rates during the past eight years of market openness, attracting investments, and a significant expansion in the Indonesian industrial sector, and the volume of trade exchange between the UAE and Indonesia during the past year reached nearly $3 billion, with a growth rate of 62% compared to 2020 and a growth rate of 17%.” Compared to 2019, the first quarter of this year recorded a trade exchange volume of nearly $900 million, with a growth of 44% compared to the first quarter of last year, which shows the continued significant growth in trade exchange between the two countries.
Wm/ Bassam Abdel Samie/ Emad Al Ali
