Nigeria and Indonesia’s bilateral trade has consistently exceeded $3bn annually, the Indonesian Ambassador to Nigeria, Bambang Suharto, has said.
The ambassador said the trade relationship had positioned Nigeria as one of Indonesia’s foremost trading partners in Africa, while calling for greater economic cooperation between both countries.
“Our bilateral trade has consistently surpassed USD 3 billion annually, cementing Nigeria’s position as one of Indonesia’s foremost trading partners in Africa,” he said.
Suharto said Nigeria supplied an essential source of energy contributing to Indonesia’s energy security.
“Nigeria supplies the essential source of energy that contributes to Indonesia’s energy security, while Indonesian products have become household staples for Nigerian consumers and businesses,” Suharto said.
He said some Indonesian products had also become established in Nigeria through local production and Nigerian workers, describing the development as evidence of the value of economic partnerships beyond the exchange of goods.
He added, “Yet, there remains considerable room to grow. Together, Indonesia and Nigeria represent a vibrant market of more than 550 million people, defined by young populations, dynamic businesses, and substantial natural and human resources.”
According to him, the combined economic potential provided a foundation for expanding trade, investment, technological exchange and employment opportunities.
Suharto said Indonesian companies operating in Nigeria were contributing to the bilateral relationship through investment, job creation and corporate social responsibility initiatives.
“Our ultimate ambition is not simply to trade more, but to cultivate a resilient partnership in which businesses on both sides thrive, local industries develop, and our people directly reap the benefits of the opportunities we create together,” he said.
He said Indonesia also attached importance to educational and cultural exchanges with Nigeria, noting that its scholarship programmes had enabled Nigerian students to study in Indonesia and establish lasting relationships.
In his remarks, the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said Nigeria and Indonesia had considerable scope to deepen their economic partnership.
Ahmed said Nigeria was particularly interested in Indonesia’s experience in industrialisation, manufacturing, digital transformation, infrastructure development, agriculture, maritime development and the expansion of small and medium-sized enterprises.
“Nigeria is particularly interested in expanding cooperation that can support the development of local productive capacity, strengthen value chains, promote technology transfer, and attract sustainable investment,” he said.
The permanent secretary urged greater interaction between the private sectors, chambers of commerce, financial institutions and business communities of both countries.
He identified agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy and creative industries as areas with significant potential for increased trade and investment.
Ahmed also called for efforts to address practical constraints to bilateral commerce, including market access, business information connectivity and the facilitation of contracts between businesses in both countries.
“Nigeria is particularly interested in expanding cooperation that can support the development of local productive capacity, strengthen value chains, promote technology transfer, and attract sustainable investment.
“Our two countries should therefore continue to encourage greater interaction between our private sectors, chambers of commerce, financial institutions, and business communities. There is significant potential for increased trade and investment in areas including agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy, and the creative industries,” Dunoma said.
Source: punchng.com
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