2024-07-23 09:54:32
The UAE and the Republic of Indonesia signed a memorandum of understanding on public financial management. The memorandum of understanding aims to strengthen cooperation between the two friendly countries in the field of public financial management, including macro and financial policies, debt management and climate finance. Training programs facilitate the exchange of experiences..
According to the memorandum, a joint council will be established to promote the implementation of the memorandum of understanding and follow-up cooperation between the two countries..
His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, said: “The signing of the Memorandum of Understanding on Public Financial Management between the UAE and the Republic of Indonesia reflects the desire of these two friendly countries to develop bilateral relations, expand the horizons of cooperation in various fields, and contribute to Strengthening financial and economic policies that support the sustainable development of both countries, we believe this memorandum will make a significant contribution to improving the efficiency of public financial management in both countries to achieve mutual prosperity and improve economic and financial standards.».
The UAE and the Republic of Indonesia share a strong and growing bilateral relationship, with trade between the two countries set to reach approximately US$4 billion by 2023. Products include agricultural products such as coffee, tea, food, electronics and textiles..
The two countries are bound by a number of economic agreements, such as the Agreement to Avoid Double Taxation (dual trade agreement) and bilateral investment agreements (Bit) and Comprehensive Economic Partnership Agreement (CEPA).
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