Economy, Domestic Economy

Indonesia-Iran Economic Commission Convenes

Indonesia-Iran Economic Commission Convenes Indonesia-Iran Economic Commission Convenes

The 12th session of Iran-Indonesia Joint Economic Commission officially opened in Jakarta on Friday co-chaired by Iranian Minister of Communications and Information technology, Mahmoud Vaezi and Indonesian Coordinating Minister for Economic Affairs, Darmin Nasution.

During the meeting, the two sides prepared the drafts for a series of memoranda of understanding to be signed during the Indonesian president’s visit to Tehran next month and explored ways of expanding bilateral ties.

Later in the day Vaezi held a meeting with President Joko Widdodo. The two sides discussed issues of mutual interest for cooperation including oil and gas, energy, banking, joint investments, health, tourism, environment and commerce.

Earlier Thursday, the Iranian minister also met with his Indonesian counterpart Rudiantara.

The 11th meeting of the joint commission was held in Tehran last year after which Tehran-Jakarta economic ties increased significantly.

According to the Islamic Republic of Iran Customs Administration, Iran exported more than 516,000 tons of non-oil goods worth $73.7 million to Indonesia during the seven months to October 21 to register a 63% rise in value compared to last year’s corresponding period.  Petrochemicals, gypsum, carpet, lead, natural rubber, medical equipment and date (fruit) were among the main exports.

Meanwhile, more than 141,000 tons of goods worth $83 million were imported from the East Asian country during the same seven-month period, which shows a 40% increase in value year-on-year. The imports mainly included palm oil, paper, wood pulp, coffee, tuna fish and auto parts. Bilateral trade stood at over $190 million last Iranian fiscal year, almost unchanged compared to the year before.

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