In­done­sia ready for broader eco­nomic part­ner­ship

Azer News - - Nation - By Rashid Shiri­nov

In­done­sia is ready for a broader part­ner­ship with Azer­bai­jan in the sphere of econ­omy, In­done­sian Am­bas­sador to Baku Hus­nan Bey Fananie said at the event ded­i­cated to the 72nd an­niver­sary of the coun­try’s in­de­pen­dence.

The diplo­mat noted that the trade turnover be­tween Azer­bai­jan and In­done­sia in­creased from $19 mil­lion in 2015 to $46 mil­lion in 2016.

“This is an in­di­ca­tion that the two coun­tries have many op­por­tu­ni­ties for the fur­ther de­vel­op­ment of re­la­tions,” the Am­bas­sador said.

Speak­ing at the event, Azer­bai­jan’s Min­is­ter of Labour and So­cial Pro­tec­tion of Pop­u­la­tion Salim Mus­limov noted that the share of In­done­sia in Azer­bai­jan’s to­tal trade turnover is only 0.7 per­cent.

The Min­is­ter said the trade turnover with the coun­tries of the Or­ga­ni­za­tion of Is­lamic Co­op­er­a­tion makes 20 per­cent of Azer­bai­jan’s to­tal trade turnover, and noted the need to in­crease the share of In­done­sia. In­done­sia rec­og­nized Azer­bai­jan’s in­de­pen­dence on De­cem­ber 28, 1991. Bi­lat­eral re­la­tions be­tween the two coun­tries were es­tab­lished on Septem­ber 24, 1992. The em­bassy of Azer­bai­jan in In­done­sia was es­tab­lished in 2006, while the em­bassy of In­done­sia in Azer­bai­jan was opened in 2010.

The trade turnover be­tween the two coun­tries is mostly re­lated to the en­ergy sec­tor, as Azer­bai­jan is the sec­ond big­gest sup­plier of crude oil to In­done­sia af­ter Saudi Arabia. In­done­sia has been im­port­ing crude oil directly from Azer­bai­jan since 2015.

A to­tal of 400,000-600,000 bar­rels of oil an­nu­ally are im­ported to In­done­sia from Azer­bai­jan. In ad­di­tion, In­done­sia buys mazut oil from Azer­bai­jan. Over­all, in re­cent years In­done­sia has been the third largest trade part­ner of Azer­bai­jan.

Last year, the In­done­sian del­e­ga­tion vis­ited Baku to dis­cuss en­ergy co­op­er­a­tion and con­sider op­por­tu­ni­ties for the joint work with Azer­bai­jan, which has huge ex­pe­ri­ence in the oil and gas in­dus­try.

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