Indonesian President Joko Widodo expressed the Southeast Asian country’s keenness to develop closer banking and trade relations with Iran in light of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Tehran and world powers that took effect in January.
Indonesia is seeking to develop a framework for comprehensive banking ties with Iran, Widodo said at a joint meeting of high-ranking Iranian and Indonesian delegations, held in Tehran on Wednesday, also attended by Iranian President Hassan Rouhani.
The visiting Indonesian official also called for efforts to take the ideal opportunity for the expansion of bilateral trade ties and joint investment provided by the JCPOA, the nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).
He also unveiled plans for a meeting of heads of Iran-Indonesia Joint Economic Commission within the next two months to evaluate the implementation of previous agreements between Tehran and Jakarta.
The Iranian president, also addressed the meeting, stressing the need to enhance banking interaction, specify preferential tariffs, and boost direct trade as part of efforts to improve bilateral economic relations.
“Establishment of closer ties between Iran and Indonesia’s state-run and private banks could help faster development of trade ties and joint investment,” President Rouhani added.
Following the meeting, top officials from the two sides signed four memorandums of understanding (MoUs) and cooperation agreements, including a mutual legal assistance treaty, an extradition treaty, and two MoUs, one on cooperation in the electricity industry and renewable energies, and the other on efforts to encourage investment.
The Indonesian president arrived in Tehran on Wednesday morning for an official visit.