Nigeria and Indonesia are seeking to expand their bilateral trade beyond the current $3 billion annual mark. The two countries also aim to deepen cooperation in investment, technology transfer, industrialization, and other sectors of mutual interest. This was stated by Indonesian Ambassador to Nigeria, Bambang Suharto, and Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, at a diplomatic reception in Abuja.
According to Suharto, bilateral trade between Nigeria and Indonesia has consistently surpassed $3 billion annually, making Nigeria one of Indonesia's foremost trading partners in Africa. The two countries have a combined market of more than 550 million people, providing significant opportunities for expanding trade, investment, technological exchange, and employment.
Suharto noted that the economic relationship between Nigeria and Indonesia is already reflected in the daily lives of citizens. Nigeria supplies energy that contributes to Indonesia's energy security, while Indonesian products have become household staples for Nigerian consumers and businesses. Indonesian companies operating in Nigeria are contributing through commercial investments, job creation, and corporate social responsibility initiatives.
The Indonesian ambassador expressed appreciation to Indonesian companies operating in Nigeria, including Dufil Prima Foods Ltd, Primera Food Nigeria Ltd, Tempo Scan Pacific, Glorious Dexa Mandaya Ltd, and Orange Kalbe Ltd. He stated that Indonesia is committed to strengthening cooperation with Nigeria and other African countries through initiatives such as the Indonesia-Africa Forum.
Ahmed said Nigeria wants to translate its longstanding diplomatic relationship with Indonesia into a broader and more productive economic partnership. He identified Indonesia's experience in industrialization, manufacturing, digital transformation, infrastructure development, agriculture, maritime development, and small and medium-sized enterprises as areas offering opportunities for closer cooperation.
Ahmed called for greater interaction between the private sectors, chambers of commerce, financial institutions, and business communities of both countries. He also identified agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy, and creative industries as sectors with significant potential for increased trade and investment.
Both countries recognize the importance of South-South cooperation and strengthening cooperation on sustainable development financing, climate action, food and energy security, technology transfer, and other issues affecting developing countries. The two countries also look forward to enhancing collaboration within the framework of ASEAN-Africa relations and strengthening bilateral mechanisms to promote greater interaction between their peoples.
Key points
- Nigeria and Indonesia aim to expand bilateral trade beyond $3 billion annually.
- The two countries have a combined market of more than 550 million people.
- Indonesia is committed to strengthening cooperation with Nigeria through initiatives such as the Indonesia-Africa Forum.
