Indonesia has once again been appointed as an honorary guest of the World Franchise Exhibition to be held in Saudi Arabia from April 27 to 29 this year, the Indonesian Embassy in Riyadh announced in a written statement released on Tuesday.
"Indonesia and Saudi Arabia are currently in the golden era, where Indonesia receives a special place in the eyes of the Saudi government and the people," Indonesian Ambassador to Saudi Arabia Agus Maftuh Abegebriel said.
The Saudi General Authority for Small and Medium Businesses will organize the expo in cooperation with the East Provincial Government under the control of Prince Ahmed Bin Fahd Bin Salman bin Abdulaziz, Deputy Governor of East Province.
Indonesia becomes an honorary guest of the expo this year thanks to the efforts of the embassy.
At the expo, the Indonesian Pavilion which covers an area of 144 square meters will feature several companies which have the potential to sell Indonesian franchise brands to Saudi Arabia, including those engaged in the food, beverage and garment industries.
By participating in the expo, more and more franchise brands of Indonesian products will hopefully be marketed in Saudi Arabia. Many Indonesian product brands, including Indomie, J-C0, ABC and Sasa are currently quite successful in Saudi Arabia.
Some 150 domestic and foreign companies with 600 brands will take part in the expo expected to be attended by some 100 thousand people from Saudi Arabia and other Gulf countries.
The ambassador said the appointment of Indonesia as an honorary guest at the expo reflects close relations between the two countries, which enter the golden era, particularly after King Salman's visit to Indonesia in March 2017.
According to data from the Trade Ministry, trade between Indonesia and Saudi Arabia reached US$6.1 billion in 2018, up 34.94 percent compared to the previous year.
However, Indonesia suffered a deficit of $1.7 billion in its trade with Saudi Arabia last year due to high oil imports. Through economic and cultural promotion, Indonesia aims to increase its exports to Saudi Arabia. (ANTARA)