Speaking to Indonesian businessmen and officials on the sidelines of the Saudi-Indonesia Business Forum at Jeddah Hilton, Mizzen Batterjee JCCI vice-chairman called upon Indonesian businessmen to invest in the Saudi market and transfer their technology, making use of its growing economy and attractive investment opportunities in vital sectors including industrialization, tourism and minerals.
Batterjee emphasized the importance channeling more investments, since there is a desire from both private sector sides to expand trade and investment relations between the 2 economic powerhouses in the Muslim world, who are members of the G-20 and have a common political and economic history, while the present 2-way trade doesn't reflect the potentials and ambitions of the 2 OIC nations. In 2012, bilateral trade stood at U$ 6,5 billion with Saudi exports reaching U$ 5,4 billion.
Indonesian President Yudhoyono called upon Saudi businessmen to explore investment in his country, the largest Muslim country with a population of 256 million, making use of its profitable investment opportunities in several sectors including automobiles, agriculture, food, infrastructure and IT. He promised all support and incentives to Saudi investors, aiming that both markets will play an important role in the world economy within 2 decades into the future.
Indonesia has the highest economic growth rate in Asia and it is the 2nd fastest growing economy in G-20.