President Sheikh Mohamed will meet Joko Widodo, President of Indonesia, on his official visit to the UAE this week. Photos: AFP / UAE Presidential Court
President Sheikh Mohamed will meet Joko Widodo, President of Indonesia, on his official visit to the UAE this week. Photos: AFP / UAE Presidential Court
President Sheikh Mohamed will meet Joko Widodo, President of Indonesia, on his official visit to the UAE this week. Photos: AFP / UAE Presidential Court
President Sheikh Mohamed will meet Joko Widodo, President of Indonesia, on his official visit to the UAE this week. Photos: AFP / UAE Presidential Court

Indonesian President Joko Widodo to begin UAE visit on Tuesday


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Indonesian President Joko Widodo will on Tuesday begin a two-day state visit to the UAE, in which he will hold high-level talks with President Sheikh Mohamed.

The two leaders will review efforts to bolster strategic ties between the friendly nations across a number of key sectors, state news agency Wam reported.

Discussions will centre on the Comprehensive Economic Partnership Agreement (Cepa) signed between the countries in July 2022, which is crucial to joint efforts to advance sustainable development.

Sheikh Mohamed said at the time the agreement would herald "a new era of increased trade, investment and economic co-operation".

The head of state said it would serve to build on the long-standing links between the countries.

The pact came into force in August 2023.

The UAE-Indonesia Cepa is projected to boost the value of bilateral non-oil trade from $4.08 billion to more than $10 billion within five years of implementation.

The agreement also seeks to raise the combined value of trade in services between the two nations to $630 million by 2030. More than 80 per cent of UAE exports to Indonesia will now be exempt from customs duties.

Mr Widodo is to step down this year at the end of his second and final term as president.

Green vision

The UAE and Indonesia are also united in the fight to safeguard the planet.

In May it was announced work had begun on a new mangrove research centre in Indonesia, in collaboration with the UAE.

Backed by the UAE's $10 million investment, the Mohamed bin Zayed-Joko Widodo International Mangrove Research Centre will be built on 2.5 hectares of land in Bali's Ngurah Rai Forest Park.

The park is already home to more than 1,158ha of mangroves and the research centre was first announced at last year's Cop28 climate change conference in Dubai.

"The project reflects the UAE’s commitment to protect critical ecosystems, such as mangroves, and is in line with [the country's] climate-mitigation efforts," said Suhail Al Mazrouei, Minister of Energy and Infrastructure, who attended a ground-breaking event at the project.

"The centre will be an ideal platform for scientists and researchers to join forces and exchange knowledge to improve our ability to counter current and future environmental challenges.

Shared values

The UAE and Indonesia's friendship runs deep, with both countries home to their own Sheikh Zayed Grand Mosque.

Sheikh Zayed Grand Mosque in Solo on the Indonesian island of Java, named in tribute to the UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was opened by President Sheikh Mohamed and his Indonesian counterpart Joko Widodo in November 2022.

Though smaller than the Abu Dhabi original, it bears a remarkable resemblance to the architectural marvel with its striking white and gold decor, four minarets and a central dome surrounded by four smaller ones.

MATCH INFO

South Africa 66 (Tries: De Allende, Nkosi, Reinach (3), Gelant, Steyn, Brits, Willemse; Cons: Jantjies 8) 

Canada 7 (Tries: Heaton; Cons: Nelson)

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Company%20Profile
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Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Updated: July 15, 2024, 1:30 PM