Qatar and Indonesia’s respective business councils are working to stage a business dialogue slated this coming March aimed to enhance bilateral trade and economic ties of both countries, according to officials.
Indonesia-Qatar Business Council (IQBC) president Hendra Hartono Turman told Gulf Times on Monday that his team is working with Qatar-Indonesia Business Council (QIBC) president Farhan al-Sayed to conduct the dialogue under the theme ‘Optimising Bilateral Collaboration Between Indonesia & Qatar: Recover Together – Recover Stronger’.
According to the event’s Terms of Reference (TOR), the event will be held on the occasion of Indonesia’s assumption of the G20 presidency this year.
“Departing from various other multilateral forums, the G20 agenda and activities are established by the rotating presidencies, in co-operation with the membership. As agreed at the Riyadh Summit 2020, Indonesia will assume the G20 presidency in 2022, with the baton passed from Italy at the Rome Summit in October 30-31, 2021. Through the theme ‘Recover Together – Recover Stronger’, Indonesia invites the whole world to work together, recover together, and grow stronger and sustainably together,” the TOR stated.
The TOR noted that the priority agenda of the Indonesian G20 presidency in 2022 includes the following objectives: exit strategy to support recovery, addressing the scarring effect to secure future growth, payment system in the digital era, sustainable finance, and digital financial inclusion.
Turman said the IQBC supports these objectives and the success of the G20, adding that the council sees the potential for co-operation in the fields of Shariah and non-Shariah investments, FDI, and green investment; creative economy and digital economy applications to provide easy access and increase the economy;
Medical tourism, education, and sports to improve the quality of these sectors for both parties; and trade of industrial products, especially products of small and medium-sized enterprises (SMEs) and co-operative actors.
Turman said the 2022 FIFA World Cup is an opportunity for Indonesia to participate in various supporting roles. “It is hoped that after this business dialogue, concrete agreements could be forged. The results of the agreements will be conveyed at a business summit scheduled in August 2022,” he said.
The business dialogue will be held using hybrid platforms with the participation of IQBC and QIBC members, government officials and representatives, and the Indonesian and Qatari business community, Turman explained.
Some of the objectives of the dialogue would include the following strategies and initiatives: ways for all parties to collaborate on strategies needed on sustaining economic activity, as well as a recommendation for a memorandum of understanding (MoU) and agreement on several key initiatives between all parties, Turman said.
“Indonesia is ready to contribute to the success of the World Cup by fulfilling its supporting needs. The business council can provide selected products, human resources, and support services so that the World Cup and Qatar’s economic activities can run well.
“In terms of trade with Qatar, Indonesia hopes to reach the 2020 figure of $200mn and maintain an average growth of 38% in 2022. Several initiatives that will be carried out in 2022 are related to strengthening self-sufficiency programmes and e-commerce,” Turman added.
Al-Sayed said, “We would like to create stronger and vibrant connectivity between Indonesia and Qatar, whose investments in the Southeast Asian nation are also growing, especially in the telecoms sector.
“We are inviting Indonesian investors to explore Qatar’s business climate. Staging regular business forums will bolster further trade relations and create a platform for companies to connect and forge agreements leading to economic growth.”