by Kolapo Olapoju
A senior official at the Indonesian trade ministry says that the country has planned to increase trade with Nigeria, targeting a bilateral trade volume at $5 billion within the next three years.
According to Nus Nuzulia Ishak, the Director General of the National Export Development at the trade ministry , trade enhancement with Nigeria is due to the fact that both countries have large populations and have witnessed high economic growth in the last few years.
The Indonesian government is also using the move to bolster its plan of alternative markets for its exports following the economic downturns in Europe and the United States, economies that have been major markets for Indonesian commodities.
Ishak said on Friday, 17 October; “We would prioritize competitive commodities in trade enhancement with the involved countries. Sectors that have been picked up to enhance trade with Nigeria are food and beverages, energy and related business and aeroplane maintenance to facilitate connectivity between the two countries.”
“Nigeria is an influential country in Africa. Should Indonesia be able to establish strong ties with that country, Indonesia would be capable to cooperate with Africa,” She added.
The director also said that Indonesia is now the largest trade partner to Nigeria in the South-East Asia region, especially as Indonesia exports oil, vegetable fats, paper products, pharmacy, soaps, electronics to Nigeria, while Nigeria exports oil, cotton and leather to Indonesia.
In 2012, strong growth was recorded in two-way trade volume between the two nations, which reached $3.18 billion, 50% higher than $2.09 billion in 2011.
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