March 24, 2023

Nigeria, Indonesia bilateral trade nears $5bn

Nigeria, Indonesia bilateral trade nears $5bn

*As 107 Indonesian companies converge in Lagos

By Prince Okafor

In true reflection of its partnership capacity, the Bilateral trade volume between Nigeria and Indonesia is closed to $5 billion.

This is coming even as the Indonesian government created a platform which attracted 107 Indonesian companies for buyers, sellers and organizations to conduct secure business transactions that would benefit all parties in Nigeria.

Speaking at the just concluded Indonesia mini expo 2023, in Lagos, the country’s ambassador, Dr, Usra Hendra Harahap, expressed his gratitude to the Nigeria’s Chamber of commerce along with business associations in Nigeria for maintaining a good spirit in achieving better cooperation and collaboration with Indonesia.

In his words: “I am glad to see the great progress in the bilateral relationship between Nigeria and Indonesia, a cooperation and diplomatic relation which began in 1965.

“Indonesia has a long history of manufacturing and production in the world economy.

“In 2020, Indonesia was number 16 economy in the world in terms of GDP (current US$), number 28 in total exports, 31 in total imports, 129 economy in terms of GDP per capita (current US$) and the number 64 most complex economy according to the Economic Complexity Index (ECI).

“If we take a look at the bilateral trade between Nigeria, as of 2022 the total trade stood at $4,7 billion, with export non-oil and gas only $459 million.

“Indeed, it doesn’t truly reflect the capacity of our partnership. Ladies and gentlemen, Emphasizing the interest of business is the utmost concern in increasing economic cooperation between the two countries.

“To this effect, the Indonesian government has created a platform for buyers, sellers and organizations to conduct secure business transactions that would benefit all parties.

“In line with this, the Embassy of the Republic of Indonesia organised this important event to explore deeper the potential business and trade between both countries; Indonesia and Nigeria.

“At this expo, you would find companies in manufacturing and sales dealing in Food and Beverages, Food supply and Energy Resources Renewable Energy Solutions, Solar appliances, pharmaceutical companies, beauty care products, Mechanical Electronic, Shoes and Footwear and so much more.

“I encourage you to have business deals and expanding your network with the Indonesian companies who already have market in Nigeria, and the companies who are sending their samples during this expo as well as the companies who are seeking the new market by sending their representatives during this Indonesia Mini Expo 2023.”

On his part, the Deputy director of Indonesia Trade promotion center Lagos, Doni Novri, that the Expo was geared towards improving the trade relationship with Nigeria.
He said: “Our hope is to expand and promote trade between Indonesia and Nigeria.

“Imagine the population of over 200 million, that his huge as far business is concern. Their needs cut across all sector. They will need electricity, food and beverages, drugs amongst others.

“Products manufactured at Indonesia have high standard and quality that will stand the test of time.”

Also, the Marketing Manager, Laili Brand, Ritchi Battifaldi, told Vanguard that the company is here to showcase a new range of products not available in Nigeria.

“Our products are unique, durable and meet the basic standard. We plan to discuss with the various agencies in the country so we can effectively launch full operation here.”