Amr Yahya reports
Cairo – Arsjad Rasjid, Chairman of Indonesia’s Business Council and the supervisory board of the Indonesian Chamber of Commerce and Industry, affirmed that the newly formed strategic partnership between Indonesian President Prabowo Subianto and Egyptian President Abdel-Fattah El-Sisi marks a significant step forward in strengthening economic ties between the two nations.
Speaking to Ahram Online, Rasjid highlighted multiple avenues for enhanced cooperation, particularly under emerging frameworks like BRICS and the Organization of Islamic Cooperation (OIC). He noted that BRICS is piloting a digital cross-border payment system that could enable bilateral trade settlements in local currencies—Indonesian rupiah and Egyptian pounds—thereby reducing dependence on foreign exchange and easing balance of payments constraints.
In addition, Rasjid pointed to the OIC’s halal product standards forum as a vital mechanism for harmonizing halal certification, which is essential to expanding both countries’ participation in the growing global halal economy and ensuring food security.
ASEAN Gateway for Egyptian Businesses
Rasjid emphasized Indonesia’s strategic role within the Association of Southeast Asian Nations (ASEAN), a rapidly growing economic bloc comprising over 685 million people with a combined GDP of nearly $4 trillion. He described Indonesia, which accounts for roughly 35% of ASEAN’s GDP, as an economic engine and a trusted entry point for Egyptian firms.
Egyptian companies involved in halal-certified sectors—such as agrifood, pharmaceuticals, and Islamic finance—stand to gain from shared cultural values and religious trust. Indonesia’s large Muslim population and its $300+ billion halal economy offer opportunities to expand exports and investments into ASEAN markets.
He also encouraged Egyptian firms to go beyond traditional trade, suggesting they align Egypt’s strengths in manufacturing and logistics with Indonesia’s market scale and regional connectivity. This, he said, could foster innovative South-South cooperation models and joint ventures across the Muslim world.
Egypt’s Economic Transformation Recognized
On Egypt’s domestic front, Rasjid expressed admiration for the country’s ambitious development and infrastructure projects. He praised the New Administrative Capital as a landmark initiative, noting that the relocation of several government ministries signaled significant progress.
He also lauded the $35 billion Ras El-Hekma agreement with the UAE, intended to develop Egypt’s northern coast into a premier logistics, tourism, and investment hub. Upgrades to key ports like Alexandria and Ain Sokhna, aimed at increasing cargo capacity by 50% over the next five years, were cited as strategic moves to enhance Egypt’s role as a regional trade and maritime gateway.
Rasjid concluded that the evolving Indonesia-Egypt partnership presents a timely opportunity to deepen economic integration, strengthen halal industry cooperation, and establish joint platforms for South-South development.
