http://www.arabnews.com/?page=9§ion=0&article=81304&d=29&m=4&y=2006&pix=community.jpg&category=Features
Wednesday, 26, April, 2006 (28, Rabi` al-Awwal, 1427)
Saudi-Indonesian Ties on Strong Footing
M. Ghazanfar Ali Khan, Arab News
King Abdullah accords a warm welcome to President Susilo Bambang Yudhoyono on arrival in Riyadh on Tuesday. (SPA)
Relations between Saudi Arabia and Indonesia have remained strong, cordial and robust all the time. With strong religious, cultural and political relations, the Kingdom and Indonesia have had mutual understanding and identical approaches on the whole range of bilateral and international issues and the two countries have always been keen to boost links in trade and investment, energy and manpower sectors.
Indonesia, the most populous Muslim country, is an ally of the Kingdom. Both these nations stand together in good and bad times. Saudi Arabia was one of the friendly nations that rushed aid to Indonesia when the tsunami lashed the province of Aceh in December 2004. The Kingdom gave $30 million as relief assistance to Asia's tsunami victims. Indonesia got a major portion of this because of the heavy losses it suffered due to tsunami.
Not only this, a large number of Saudi citizens also responded generously by donating more than $83 million to a Saudi government telethon initiative to raise funds for tsunami victims. On the commercial front, Riyadh and Jakarta have forged closer relations. The two countries are closely working in trade, investment and agriculture sectors, while exchanging experts, marketing Saudi dates and Indonesian tropical fruits.
Moreover, Saudi Arabia is one of the leading investors in Indonesia with an estimated investment of $3.01 billion. Most of Saudi investments are in the fertilizer industry, refinery industry, oil processing, real estate and trade representative offices. The total value of Saudi investment in Indonesia from 1997 until 2004 had reached $7.55 billion in 35 projects. Currently. there are more than 500,000 Indonesians working in Saudi Arabia. Referring to the commercial relations between the two countries, an Indonesian Embassy report said that the total Indonesian exports to Saudi Arabia had been in the region of $418.24 million and imports $1.96 billion. Hence the trade deficit amounts to $1.58 billion with Saudi Arabia. In order to narrow the trade gap, the report said that producers in Indonesia should pay serious attention to the quality of goods they export and they should start being proactive in conducting promotions to create "trust" among Saudi people.
The two countries should have a far closer trade and investment relationship given their centuries-old ties. The two sides have been pushing for the establishment of at least three joint ventures between Saudi Arabian and Indonesian businessmen that will first focus on garment manufacturing and food processing. Indonesia imports oil from Saudi Arabia, while it exports textiles, garments and plywood.
The Saudis are also interested in investing in resorts in Indonesia, as Saudi tourists now feel more comfortable traveling to Asia than to the US and Europe given the tight checks by the US and European immigration offices on visitors from the Middle East. Malaysia has been taking the most profit out of the trend. Also, many Indonesian goods could not enter the Saudi market for failing to meet the standards set by the nation.
But, the Saudi government has promised to provide easier market access. On the other hand, Indonesia has made investments in Saudi Arabia only in noodle production, construction and electrochemical projects. The Kingdom has also helped Indonesia through bilateral as well as multilateral schemes. Indonesia has been receiving project aid from the Saudi Fund for Development (SFD) since 1976.
This is in addition to the Islamic Development Bank, which has also been extending all facilities to Jakarta. The visit of the Indonesian president, hence, will boost links with the Kingdom in all sectors. The president is visiting the Kingdom to drum up investment from Saudi Arabia and to secure investment promises. To promote trade and investment ties is high on the agenda of the Indonesian president, who is visiting other countries of the Middle East also during this trip.
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