The Indonesia Investment Authority (INA) and Dubai Ports World (DP World), a multinational logistics company based in Dubai, the United Arab Emirates, have signed an agreement on maritime and logistics services worth 7.5 billion U.S. dollars, an INA executive said.

The cooperation between INA and DP World was set up in an effort to improve the quality of port operation, reduce logistics costs and sharpen Indonesia's competitive edge, INA's Chief Executive Officer (CEO) Ridha Wirakusumah said in a statement in Jakarta on Monday.

According to Wiraksumah, DP World will later bring world-class technology to the development of new terminals and other port assets in Indonesia, thereby increasing inter-island and international traffic.

The strategic partnership with DP World is in line with the INA's mission to optimize investment in infrastructure to encourage long-term economic growth, he said, adding that Indonesia is now among the top 15 countries and regions in terms of container traffic.