Jakarta, Indonesia, 16 May 2016 – The Saudi–Indonesian B2B (Business to Business) Meeting, held on Monday at the Fairmont Hotel in Jakarta, provided representatives from the two countries with an opportunity to connect and discuss ways to enhance their trade partnership and promote Islamic trade finance.

The event was organized by the International Islamic Trade Finance Corporation (ITFC), an autonomous member of the Islamic Development Bank (IsDB) Group, in collaboration with Saudi Export Development Authority (SAUDI EXPORTS) and the Indonesia Chamber of Commerce (KADIN).

It was inaugurated by Dr. Ahmad Mohamed Ali, President of the IsDB Group; Mr. Bambang Brodjonegoro, Minister of Finance for Indonesia; Eng. Hani Salem Sonbol, Chief Executive Officer of ITFC; Mr. Bassam Bin Hamed Al Aujan, Director General, Business Development of SAUDI EXPORTS; Mr. Benny Soetrisno, the Vice Chairman for Trade of KADIN; and Mr. Oussama Abdel Rahman Kaissi, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), another autonomous member of the
IsDB Group.

The Saudi–Indonesian B2B Meeting is a pilot cooperation project between ITFC and SAUDI EXPORTS. It attracted 150 participants, including government officials, business leaders, experts, investors, traders and company owners, confirming the interest for Islamic economic development in Indonesia and trade between Saudi Arabia and Indonesia.

The meeting showcased presentations and discussions from ITFC, SAUDI EXPORTS, KADIN and ICIEC featuring opportunities, challenges and solutions for increasing trade between Saudi Arabia and Indonesia. It also hosted a series of meetings between buyers and sellers from the two countries, providing them with a platform to connect and exchange ideas for future collaboration.

“This event is a milestone for the establishment of new business partnerships among the businessmen of our two esteemed member countries: Indonesia, and Saudi Arabia,” said Eng. Hani. “Boosting cooperation and integration among the member countries, ensuring seamless connectivity, and facilitating trade exchange among member countries are among the strategic objectives of the IsDB Group. ITFC will continue to provide such B2B platforms for its member countries to pave the way for fruitful
business cooperation that will increase trade exchange among our member countries and create new joint ventures for trade with the rest of the world.”

“We are excited and looking forward to collaborate with ITFC, considering the huge potential of Islamic trade finance in Saudi Arabia and Indonesia,” said Mr. Al Aujan. “There are still many things to explore and motivate us to ensure Saudi products have a stronger presence in the Indonesian market.”