Qatar and Indonesia Sign MoUs and Declaration of Intent

Jakarta, October 18 (QNA) - Qatar Chamber, Indonesian Chamber of Commerce and Industry, Mwani Qatar and Indonesia Port Corporations (IPC) signed two memoranda of understanding (MoUs) and declaration of intent with the aim of expanding trade and economic relations between both countries, strengthening communication and cooperation between the private sectors from both sides and developing mechanisms and procedures of establishing joint investment projects. HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani and HE Minister of Trade of Indonesia Enggartiasto Lukita attended the signing of the MoUs and declaration of intent, which was held on the sidelines of the Qatari-Indonesian Economic Forum, organized by the Ministry of Economy and Commerce, in cooperation with Ministry of Trade in Indonesia. The memorandum of understanding signed between Qatar Chamber and Indonesian Chamber of Commerce and Industry aims for the cooperation between chambers, exchange information and visits strengthen the business sector and hold exhibitions between both countries. The second memorandum of understanding signed by Mwani Qatar and IPC includes jointly working on exchanging the best methods and experience regarding the management of ports and its operation; it also aims to strengthen the cooperation on investments, promoting, and innovative technologies and exchange professional experience. It also aims to encourage business logistics, trade and exchange information in order to strengthen the ports' capacity to enhance both countries' economies. The MoU and declaration of intent signed between Mwani Qatar and IPC is expected to play an important role in expanding the trade and economy relations between the State of Qatar and the Republic of Indonesia as well as strengthen the communication and cooperation between the private sectors of both sides and develop mechanisms and procedures of establishing joint investment projects. The Qatari-Indonesian Economic Forum is an important initiative on the path of economic, investment, and trade cooperation between both countries. During the forum, the ministry discussed the advantages of investing in the State of Qatar, the ways the private sector may benefit from the investment incentives provided by the State to the foreign investors. The ministry also discussed ways to establish long term economic mechanisms between the Qatari and Indonesian countries to benefit from the successes achieved by Indonesia's economic experience. The volume of the Qatari-Indonesian trade exchange reached about QR 1.8 billion equivalent to $493 million 2016. (QNA)