By:Zawya

JAKARTA — 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 across the mining and industrial sectors.

The visit included a series of high-level meetings with senior Indonesian officials, notably Agus Gumiwang Kartasasmita, Minister of Industry; Bahlil Lahadalia, Minister of Energy and Mineral Resources; Rosan Perkasa Roeslani, Minister of Investment and Downstream Industry; Erick Thohir, Minister of State-Owned Enterprises; Hashim S. Djojohadikusumo, Special Envoy for Climate and Energy Transition; and Sukatmo Padmosukarso, Executive Director of Indonesian Exim Bank.

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 Sukses Makmur, and mining leaders such as Mining Industry Indonesia (MIND ID) and PT Vale Indonesia. These engagements explored joint ventures, technology transfer, and knowledge-sharing opportunities.

The Saudi delegation visited major industrial and research institutions, including MIND ID and PT Vale headquarters, the National Research and Innovation Agency (BRIN), and Pusat Industri Digital Indonesia 4.0. Al Khorayef chaired a workshop for mining investors and a roundtable with private sector leaders focused on industrial partnerships.

Key outcomes of the visit included the signing of a Memorandum of Understanding (MoU) between Saudi Arabia and Indonesia to strengthen collaboration in critical minerals development and processing—particularly nickel, cobalt, and copper. A second MoU was signed between Saudi EXIM Bank and its Indonesian counterpart to boost trade and exports in the industrial and mining sectors.

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.

The two nations have signed agreements in renewable energy, infrastructure, halal production, and youth development, and continue to align strategically in developing clean energy supply chains and industrial resilience.