Sheikh Mohamed invited to G20 summit in Indonesia

Indonesia has invited Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, to attend the G20 Summit in November this year.

Indonesia holds the presidency of the intergovernmental group. The UAE is one of the chief guests for the 17th G20 Heads of State and Government Summit in Bali.

Indonesian President Joko Widodo extended the invitation during a phone call with Sheikh Mohamed yesterday, news agency Wam reported.

The Crown Prince thanked Mr Widodo and wished Indonesia success in its presidency of the global gathering.

He hoped the summit would push for more cooperation to enhance the recovery of the global economy from the Covid-19 pandemic and consolidate the foundations of effective partnerships and a strong sustainable economy to benefit all.

The leaders also discussed ways of strengthening ties of friendship and co-operation.

Trade between the two nations is expected to grow significantly after the signing of a deal last month.

Etihad Credit Insurance, the UAE’s federal export credit company, signed a reciprocal reinsurance agreement with its Indonesian counterpart, PT Reasuransi Indonesia Utama to bolster bilateral trade.

The two state-owned entities will help companies in each country to expand internationally and focus on sustainable development.

It follows the signing of agreements worth billions of dollars during Mr Widodo’s visit to the UAE in November.

The countries hope to triple bilateral trade, which reached about $2.5 billion in 2020, in the next four years.