He said he had reached agreement with Iranian President Hassan Rouhani to raise volume of trade to the value of two billion dollars from 280 million dollars.
He said Tehran and Jakarta will embark on joint investment.
He went on to say that Indonesian Petramia state oil company will in February 2017 invest in management of Iranian oil fields, which enjoy huge oil reserves, and Iran will set up a high capacity power plant and power plant in Indonesia.
The president said economic pressures are now a common challenge facing all countries, while Indonesian economy had in the second quarter of this year, attained 5.18 percent growth and in the third quarter of the year 5.02 percent growth.
Referring to the fact that Indonesia still reserves the third rank in economic growth in the G20 states, Widodo said Indonesian economic growth next year will be around 5.1 percent as of next Christian year.
He said Indonesia is now focusing on development of the infrastructures and development outside Java like construction of high way from Lampung to Aceh and railway in Solvasi.
The president said development of the infrastructure will help ease logistics and transportation cost and eventually the cost price of products.