President of the Republic of Indonesia, Prabowo Subianto, and the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz Al Saud, held a bilateral meeting at the Al-Salam Palace in Jeddah, Saudi Arabia. During this meeting, both leaders agreed to strengthen their strategic partnership in the fields of economy, investment, and energy.

The meeting took place on Wednesday, July 2, 2025. At the outset, both leaders acknowledged the strong economic ties between their nations and emphasized the importance of expanding cooperation in mutually prioritized sectors.

Over the past five years, trade between Indonesia and Saudi Arabia has reached approximately USD 31.5 billion, positioning Saudi Arabia as one of Indonesia’s key trading partners in the region.

Prabowo and Prince Mohammed bin Salman welcomed the significant opportunities presented by Saudi Arabia's Vision 2030 and Indonesia’s Golden Vision 2045, viewing them as a shared platform to enhance cross-sector collaboration and accelerate economic transformation in both countries.

“Both sides agreed on the importance of boosting cooperation in joint priority sectors, strengthening private sector partnerships, and leveraging the opportunities provided by Saudi Vision 2030 and Indonesia’s Golden Vision 2045,” stated the joint declaration issued Thursday, July 3, 2025.

On trade matters, both nations highlighted the need to enhance trade volumes, encourage reciprocal visits between public and private sector officials, and regularly organize business forums through the Saudi-Indonesian Business Council.

Both governments also expressed appreciation for the positive progress made in negotiations for the Free Trade Agreement between Indonesia and the Gulf Cooperation Council (GCC) countries, which took place in September 2024 and February 2025. They expressed hope that the agreement could be finalized soon.

“They welcomed the positive outcomes of the Free Trade Agreement discussions between the Republic of Indonesia and GCC member states, held in September 2024 and February 2025, and conveyed their hope for the swift conclusion of the agreement,” the joint statement read.

In the energy sector, Indonesia acknowledged Saudi Arabia’s pivotal role in maintaining the stability and balance of the global oil market and emphasized the significance of ensuring energy supply security for the international market. Furthermore, the two countries agreed on various core areas of energy cooperation, including crude oil and derivative supplies, refinery and petrochemical projects, renewable and new energy sources, energy efficiency, carbon management, clean hydrogen technology, and the application of artificial intelligence in sustainable energy development.

“Both parties agreed on the importance of collaboration in the development and implementation of renewable energy and storage projects, as well as on advancing technology transfer, capacity building, and joint research initiatives to support national energy transition efforts,” the statement continued.

In the mining sector, the two countries will collaborate on sharing geological knowledge, conducting mining exploration, processing minerals, and adopting modern technological advancements. As a tangible follow-up, Indonesia and Saudi Arabia have agreed to develop a joint roadmap aimed at creating a favorable investment climate, facilitating capital flows, and resolving regulatory barriers.