Iran, Indonesia discuss ways to strengthen economic ties

ANKARA

Iranian President Ebrahim Raisi on Tuesday met with Indonesian President Joko Widodo to discuss ways to strengthen economic ties between their countries.

The two sides inked a preferential trade agreement worth $20 billion to boost trade and business relations between the two countries, according to the daily Tehran Times.

Ten more agreements on cooperation in different areas, including oil and gas, were also signed in the presence of the two presidents.

Earlier, Raisi arrived on a two-day visit to Indonesia and was welcomed by Widodo at the presidential palace in Bogo.

Addressing a joint news conference with his Indonesian counterpart, the Iranian president said that the signing of numerous cooperation agreements in various fields shows the determination of the two countries to develop relations in all fields.

Referring to the goal of increasing the bilateral trade volume to $20 billion, Raisi said, the two countries have decided to "conduct their exchanges with national currencies."

The current volume of trade between Iran and Indonesia stands at nearly $1 billion with the balance hugely in favor of Tehran, whose exports to Indonesia are worth $847 million, according to the Tehran Times.