TheIKNPost.com – Through the Indonesian Embassy to Saudi Arabia, facilitating exploration of cooperation in the electricity sector between private companies from Saudi Arabia and Indonesian companies.
Present at the meeting were the Executive Board of the Al Ojaimi Industrial Group (OIG) Company Mahmoud Ghalib, the Plenipotentiary Ambassador (LBBP) of the Republic of Indonesia to Saudi Arabia Abdul Aziz Ahmad, Economic Function Officer Yusuf Arifin, and Riyadh Trade Attaché Gunawan.
“This business meeting was held to capture opportunities to explore cooperation with companies in the electricity sector in Indonesia, especially in the fields of investment (inbound and outbound), trade in electrical equipment, supply and work on projects in the electricity sector of the two countries, as well as trade cooperation. “skilled labor services in the electricity sector,” said Aziz.
Aziz also added that Indonesia has the opportunity to supply professional workers in the electricity sector. “OIG has supplied the needs of transformers, electrical panels and electrical installations. “Of course this has the potential for Indonesia to supply professional personnel in the electricity sector,” added Aziz.
Gunawan added that business exploration could increase exports of Indonesian electrical equipment to Saudi Arabia. “OIG is very interested in exploring cooperation with companies in Indonesia. “This business exploration can certainly encourage potential trade transactions in electrical equipment between the two countries and can increase exports of Indonesian electrical equipment to Saudi Arabia,” said Gunawan.
Based on Trade Map data, Indonesia exported electrical machinery and equipment and their derivatives throughout the world in the last three years, namely in 2022 amounting to USD 14.55 billion, in 2021 amounting to USD 11.77 billion, and in 2020 amounting to USD 9.23 billion.
Meanwhile, Indonesia’s exports to Saudi Arabia for electrical machinery and equipment products and their derivatives (HS Code 85) including transformers, breakers, cables and accessories in the last three years were USD 41.23 million in 2022, USD 60.55 million in 2021, and in 2020 it was USD 29.66 million. Based on data from the Central Statistics Agency processed by the Ministry of Trade, Saudi Arabia is Indonesia’s 20th trading partner for electrical equipment products.
Meanwhile, Saudi Arabia’s import value for machinery and electrical equipment products and their derivatives in the last three years from around the world in 2022 was USD 15.62 billion, in 2021 it was USD 13.88 billion, and in 2020 it was USD 12.72 billion. .
The largest countries supplying electrical equipment products to Saudi Arabia in 2022 are China (USD 8.36 billion), the United States (USD 964.28 million), India (USD 735.96 million), and South Korea (USD 554.23 million) . Meanwhile, countries supplying electrical equipment to Saudi Arabia from ASEAN countries are Vietnam (USD 777.89 million), Malaysia (USD 202.65 million), and Thailand (USD 114.11 million).
OIG is one of the most prominent industrial groups in the Gulf Cooperation Council (GCC) region which is committed to implementing the green industry concept. OIG owns eight companies, namely MATCO, Electrical Circuit Breaker (ECB), Saudi Taihan, Ojaimi Switch Gears, Swanco, Masarat, TransM, and NEP.
OIG is currently working on many large projects in Saudi Arabia, such as the ARAFAT Project for Hajj, Boulevard Project, Ma’aden Project, Arafat Project, Red Sea Project, and NEOM Project. In addition, OIG collectively provides a very comprehensive supply of industrial electrical products and has exported to many countries in the GCC region and other countries such as Egypt, Lebanon, Palestine, Sudan, Jordan and Poland.