Jakarta (Indonesia Window) – Indonesian President Joko Widodo has expected the trade value between Indonesia and the United Arab Emirates (UAE) to increase two to three times through the comprehensive economic partnership agreement (IUAE-CEPA).

It was conveyed by Indonesian Foreign Minister Retno Marsudi after accompanying the head of state to receive the UAE’s Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the Merdeka Palace here on Friday (Sep. 3).

“The president also said that so far, the trade between Indonesia and the UAE could still be increased because the trade figure has only reached 2.9 billion U.S dollars. With the CEPA, the president expects at least a 2-3-fold increase in trade," said Minister Retno in an online press conference along with Indonesian Minister of Trade Muhammad Lutfi.

"The president hoped that the negotiations could be completed in less than a year," Retno added.

Meanwhile, Lutfi said he was optimistic that the IUAE-CEPA negotiations could be completed at the first opportunity, so it would not exceed one year.

"Hopefully on November 4, during the president's visit to the UAE, this agreement would be in final phase," he said.

Reporting by Indonesia Window