Jakarta, ThedailyID — Indonesia and Egypt have agreed to strengthen bilateral cooperation in trade, investment, economic affairs, and defense. The agreement followed Egyptian President Abdel Fattah el-Sisi’s state visit to Indonesia on Sunday, October 11.
Indonesian President Prabowo Subianto said both countries would pursue an Economic Partnership Agreement (EPA). The proposed agreement aims to expand market access and investment opportunities for businesses in Indonesia and Egypt.
“We have also agreed to strengthen cooperation in various fields, particularly the economy, trade, and investment,” Prabowo said during a joint press statement in Jakarta.
The two leaders also welcomed an initiative to establish a Joint Investment Fund through their respective investment institutions. The fund would support investment in strategic projects in both countries.
“We also welcome the initiative to establish a Joint Investment Fund through the investment institutions of our two countries to encourage investment in strategic projects,” Prabowo said.
Meanwhile, El-Sisi said both countries had agreed to increase bilateral trade to $5 billion by 2030. He emphasized the importance of economic and business cooperation and efforts to remove barriers to trade.
“We agreed to give special attention to economic and business cooperation, in line with the considerable capabilities of both countries, and to increase trade to $5 billion by 2030 by continuing efforts to remove various obstacles,” El-Sisi said.
The Egyptian president also highlighted opportunities for priority projects and cross-border investment. He said Egypt could serve as a gateway for Indonesian businesses seeking to expand into Arab, African, and European markets.
During the visit, Indonesia and Egypt also agreed on several cooperation initiatives. These include visa exemptions, statistical cooperation, fisheries cooperation, and an action plan to strengthen their strategic partnership.
The agreements reflect both countries’ efforts to deepen economic ties and create new opportunities for trade and investment. The proposed trade target and investment initiatives will form part of their broader push to expand bilateral relations.
