Iran, Indonesia to use national currencies in trade

By Al Mayadeen English
Source: Agencies
23 May 17:48
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Earlier this morning, Iranian authorities announced on Telegram that Iran and Indonesia signed 11 documents pertaining to cooperation in various fields.

Iranian President Ebrahim Raisi and Indonesian President Joko Widodo walk upon their meeting at the Presidential Palace in Bogor, Indonesia, May 23, 2023 (Reuters)

Iranian President Ebrahim Raisi said on Tuesday that Tehran and Jakarta have agreed to make additional steps towards stronger economic and financial cooperation through the use of national currencies in mutual trade and financial transactions.

"The target set for the development of trade and economic relations between the two countries … is $20 billion. If we do not describe the sum in [US] dollars, we should say that [we mean] an equivalent of this sum in [Indonesian] rupiahs and [Iranian] rials, which are the national currencies of the two countries. And we have decided to cooperate with this country and other countries using our national currencies," Raisi said at a meeting with his Indonesian counterpart Joko Widodo, as quoted by the Tasnim news agency.

Earlier this morning, Iranian authorities announced on Telegram that Iran and Indonesia signed 11 documents pertaining to cooperation in various fields, including the preferential trade agreement (PTA) which would enable exchanges to occur through the use of national currencies as well as other documents relating to visa-free travel, cultural exchanges, pharmaceutical production, and joint energy and science projects.

Presiden Joko Widodo dan Presiden Republik Islam Iran, Seyyed Ebrahim Raisi, membahas situasi geopolitik dunia dan menyepakati sejumlah kerja sama dalam pertemuan bilateral keduanya di Istana Kepresidenan Bogor, Provinsi Jawa Barat, Selasa, 23 Mei 2023. pic.twitter.com/Iuv2dNVjUD
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