By: Kayhan Int’l Staff Writer

     

Of the several agreements signed by Iran and Indonesia in Jakarta by the presidents of the two countries, envisaging commercial transactions to reach to the equivalent of 20 billion dollars annually, the most important point is the total scrapping of the US dollar in bilateral trade.

This is another big blow to the hegemony of the American currency which is an instrument of blackmail by Washington and a tool for economic terrorism through imposition of the illegal sanctions on world countries.

Indonesia, whose economy is the world’s 16th largest by nominal GDP and the 7th largest by PPP, is a regional power in southeast Asia and in view of its leading role in ASEAN, also influences international affairs.

Like Iran and other major countries such as Russia and China, the government of President Joko Widodo follows an independent financial policy and has greatly reduced the use of the US dollar in trade transactions.

Its foreign policy has many common points with the Islamic Republic, especially the firm support for Palestine’s independence and refusal to recognize the illegal Zionist entity despite western pressures.

These commonalities between the two Muslim countries of Iran and Indonesia were definitely given a boost by President Hojjat al-Islam Seyyed Ibrahim Raisi’s two day trip to Jakarta.

As members of the Non-Aligned Movement the two countries play a pivotal role in ASEAN and ECO respectively, and as members of the D-8 Muslim bloc and the Organization of Islamic Cooperation (OIC), are all set to solidify their trade, political, cultural, and all other bilateral ties.

Iran for its part is a country with a geopolitically strategic location, serving as a bridge between Asia and Europe, which means that once the North-South Corridor is fully activated, it will be a great boost to Indonesia as well, for increasing trade ties with not just the landlocked Muslim republics of Central Asia, but also with Russia and northeastern Europe, through the most safe, secure, and cost-effective transit route.

Needless to say, Iran has large reserves of fossil fuels—including the second-largest natural gas supply and the third-largest proven oil reserves. In addition, its rich cultural legacy is reflected in part by 26 of its historical, geographical, and cultural sites on the UNESCO World Heritage List.

The two countries thus, have much to gain through serious cooperation, which is profitable to not just Iran and Indonesia, but to the benefit of the Islamic Ummah.