"Actually, tomorrow (Wednesday, April 24) business people from Egypt will be meeting officials from Kadin (Indonesian Chamber of Commerce and Industry). That should improve trade relations further," Moawad stated at a photo exhibition under the theme ‘The Face of Indonesia', here on Tuesday.
Since economic cooperation is an important factor in bilateral relations, Egyptian businessmen and Kadin officials will meet and discuss various mutually beneficial business opportunities, the ambassador said.
The total trade between Indonesia and Egypt in the January and February 2019, reached US$213.42 million (around Rp3 trillion), which consisted of exports worth $191.91 million (around Rp2.7 trillion) and imports were worth $21.51 million (around Rp303 billion), according to data from the Indonesian Ministry of Trade.
Earlier, Indonesian Ambassador, Helmy Fauzi, visited the Oleo Misr company in the Sadat City industrial area, in Egypt, on April 8, following a trade contract worth $130 million (around Rp1.8 trillion), that was signed by Oleo Misr and an Indonesian state plantation company (PTPN) and PT Chitra Agri Indonesia (an Indonesian plantation company).
Helmy hoped that Oleo Misr would make efforts to diversify palm products as a sustainable product. (Antara)