KUALA LUMPUR: Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto and Kuwait's Ambassador to Indonesia Khaled Al-Yassin affirmed their countries' commitment to enhancing cooperation in energy security to address global economic and geopolitical uncertainties.
Hartarto said in a statement that the affirmation came during his meeting on Saturday with Al-Yassin in Jakarta, noting that diplomatic relations between Indonesia and Kuwait are built on a solid foundation that serves as an important catalyst for expanding bilateral cooperation, particularly in the field of energy security.
He explained that energy cooperation between the two countries encompasses several strategic projects, including the participation of Kuwait Foreign Petroleum Exploration Company (KUFPEC) in eight oil and gas exploration projects across Indonesia.
The minister then added that the exploration projects are located on Buton Island in Southeast Sulawesi, the Natuna Sea and eastern Kalimantan.He noted that a consortium led by KUFPEC Indonesia B.V. is also conducting oil and gas exploration activities in the Anambas Islands of the Riau Islands province.
Hartarto said the two countries had formalized their energy cooperation through a memorandum of understanding (MoU) on oil, gas and petrochemicals signed in 2019.Beyond the energy sector, Indonesia and Kuwait are linked by several MoUs, including an agreement on the establishment of a joint committee, as well as economic, technical and trade cooperation agreements signed in 2007, he added.
The statement quoted Kuwaiti Ambassador Al-Yassin as saying that the various agreements signed between Kuwait and Indonesia reflect the strategic importance Indonesia holds for Kuwait, particularly in the economic sphere.
According to the statement, both countries agreed to accelerate negotiations on a free trade agreement between Indonesia and the Gulf Cooperation Council (GCC), with the aim of concluding talks by the end of 2026.Bilateral economic relations recorded notable growth in 2025, with total trade increasing by 10.69 percent to USD 606 million, compared with USD 547.5 million in 2024. Kuwaiti investments in Indonesia also rose from USD 290,000 in 2024 to USD 1.2 million in 2025, driven primarily by the oil and gas sector.  — KUNA
