Speaking at the “International Cooperation and Relations in
Petrochemicals” panel during the 15th Iran Petrochemical Conference (IPF),
Boroujerdi highlighted Indonesia’s significant investments in the petrochemical
sector.
Boroujerdi noted that some of Indonesia’s petrochemical
projects are among the largest in East and Southeast Asia. He emphasized the
importance of Iran planning to benefit from Indonesia’s dynamic economy, which
is expected to become one of the top 10 global economies by 2040-2045,
according to the IMF and World Bank.
The ambassador acknowledged that while U.S. sanctions have
impacted Iran-Indonesia economic relations since 2016, the petrochemical sector
has continued to see fluctuations in trade. Indonesia has attracted
approximately $30 billion in investments for its petrochemical industry and
remains both an exporter and importer of petrochemical products, with around
$20 billion in imports.
Boroujerdi highlighted that Indonesia imports 17
petrochemical products, including ethylene and propylene, from countries such
as Iran, China, Singapore, Malaysia, Italy, Thailand, and the UAE. He mentioned
that Indonesia imported 770,000 tons of polyethylene and 1.1 million tons of
polypropylene last year, with the industry growing at an average rate of 7-8%.
It is projected that propylene production alone will increase by an average of
3.5% annually until 2045.
Boroujerdi concluded by stressing the strategic importance
of Iran enhancing its economic ties with Indonesia and leveraging the
opportunities presented by Indonesia’s growing petrochemical industry.