Arab News, Thursday, Nov 17, 2022 | Rabi Al Thani 22, 1444
Saudi Arabia, Indonesia sign MoU to cooperate in energy fields
Saudi Arabia :
Saudi Arabia has signed a memorandum of understanding with Indonesia to
cooperate in energy fields in pursuit of their common aspirations, according to
the Saudi Press Agency.
Signed on the sidelines of the G20 summit meetings
currently being held in Bali, the MoU aims to enhance cooperation in the fields
of oil and gas, electricity, and renewable energy.
The understanding will also encompass energy
efficiency, clean hydrogen, the application of the circular carbon economy and
its technologies to reduce the effects of climate change, digital
transformation, innovation, cybersecurity, and artificial intelligence in the
field of energy.
Cooperation will be achieved through exchanging
information and experiences in areas related to the MoU, exchanging visits
between experts and specialists, and organizing conferences, seminars, and
working sessions.
It also entails conducting joint studies and
working to develop qualitative partnerships between the two countries to
localize materials, products and services, and supply chains and their
technologies.
Saudi Arabia’s Crown Prince Mohammed bin Salman
arrived in Indonesia on Tuesday to participate in the G20 summit as leaders
gathered to discuss a number of issues facing the world, including the war in
Ukraine, a global economic downturn, and food security, among other topics.
In September, Saudi Commerce Minister Majid
Al-Qasabi met Indonesia’s Trade Minister Zulkifli Hasan on the sidelines of the
G-20 trade, investment and industry working group meeting in Bali.
The two sides agreed on a road map, with periodic
follow-ups, for boosting trade exchanges between the two countries, the Saudi
Press Agency reported.
The ministers also discussed ways to enhance and
support the business sector to aid the development of trade relations, and ways
to take advantage of the opportunities available in the two countries and turn
them into tangible partnerships.
In October, Indonesia was looking to exchange
resources with Saudi Arabia to boost the production of electric vehicles and
strengthen energy cooperation, a top Indonesian business leader revealed.
Speaking to Arab News on the sidelines of the
Future Investment Initiative forum in Riyadh, Arsjad Rasjid, chairman of the
Indonesian chamber of commerce, said the Southeast Asian country supplied more
than 40 percent of the world’s nickel, heavily used in e-vehicle batteries, and
had an array of energy facilities.
“This is where Saudi Arabia, with the capital and
technology, and Indonesia can work together,” he added. “There is
interconnectivity here on the level of electric vehicle ecosystems that can be
synergized between Saudi and Indonesia.”