The International Trade Promotion Centre Lagos said that the trade volume between Nigeria and Indonesia rose to over $2.5bn in 2016.

The Director, ITPC, Bagus Wicaksena, stated this during a press briefing to announce the Indonesian-African forum tagged ‘Sustainable trade and investment cooperation’ scheduled to hold in April in Bali, Indonesia.

According to Wicaksena, the trade volume represents the second largest the Indonesian government has traded with any country within the continent.

He added that the total volume of trade between Indonesia and Africa stood at $7.6bn in 2016.

The inaugural edition of the forum, Wicaksena said, was an Indonesian government’s initiative aimed at promoting and strengthening trade and investment relationship between Indonesia and sub-Saharan Africa.

He noted that Africa had been a potential market for Indonesian consumer goods such as palm oil, garments, technical cooperation and motorised vehicles.

He said, “The forum will generate new ideas aimed at strengthening bilateral trade with Nigeria. We have experienced a promising trade relationship with Nigeria as it has grown by 10 per cent. West African countries are strategic partners in terms of trade and we want to forge stronger bilateral relationships with countries on the continent.”

The President, Goldmine Global Services Limited, organisers of the event, Ishmael Balogun, said that the forum was geared towards exploring various economic opportunities to strengthen technical cooperation and enhance the existing partnership between both countries.

He said, “The forum intends to provide a unique opportunity for around 550 people from the Indonesian business community, high level government officials and other stakeholders to gather, interact and explore ways to establish concrete economic cooperation and expand business networks.

“We believe the forum would provide a platform for Nigerian and other African businesses to showcase what they have to offer to the Indonesian business community, thereby improving the probabilities of attracting inward cooperation and investments in terms of foreign direct investments from Indonesia.”

He stated that the forum would be graced by the Indonesian President and other key industry personnel, stressing that so far, no less than 23 ministers from 23 African countries had been confirmed for the forum in Bali.

Source: Punchng.com

 

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Nigeria, Indonesia trade volume hits $2.5bn

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