Iran, Indonesia Strengthen Economic Ties During Presidential Visit

Iranian President Ebrahim Raisi and his Indonesian counterpart, Joko Widodo, convened on Tuesday during a two-day trip aimed at bolstering economic relations between the two Muslim-majority nations amid global geopolitical tensions. The meeting took place in Bogor, Indonesia, just outside of Jakarta, as Widodo seeks to boost exports to aid Indonesia’s post-pandemic recovery.

The two leaders oversaw the signing of a preferential trade agreement and 10 other accords aimed at deepening ties and expanding bilateral trade. This visit highlights Iran’s pursuit of alternatives to Western economic influence, particularly from the US.

In a joint press conference, Widodo highlighted discussions on increasing export opportunities in the Middle East and Persia and inviting Iranian businesses to invest in Indonesia’s new capital on Borneo island. The two leaders also voiced their mutual support for the Palestinians and highlighted their commitment to women’s education and humanitarian aid in Afghanistan.

Iran and Indonesia, two of the world’s most populous Muslim-majority nations, have been actively seeking to enhance their trade and investment ties, and are keen on diversifying their economies and reducing reliance on traditional trade partners. Indonesia, in particular, views Iran as a nontraditional trade partner that offers substantial economic opportunities. For Iran, building stronger economic ties with Indonesia aligns with its broader strategy to lessen the impact of Western sanctions.