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Thursday, 19 December 2013
Nigeria: Indonesia Moves to Boost Trade With Nigeria - Targets N80.4 Billion Trade Volume in 2013
The Republic of Indonesia is committed to initiatives that will facilitate increased trade between it and Nigeria, with a target of about N80.4 billion trade volume in 2013.
Director of Indonesian Trade Promotion Center (ITPC), Lagos, Mr. Pontas Tobing, stated this at a Business Roundtable meeting between a visiting Indonesia trade delegation and some Nigerian business men in Lagos.
He noted that total non-oil and gas trade between Nigeria and Indonesia stood at $448.6 million in 2012 (about N71.8 billion), with the aim of increasing the figure by 12 percent by the end of 2013 which is about $502.4 million (about N80.4 billion).
Tobing said in order to further boost trade between the countries, the Indonesian Ministry of Trade and Ministry of Foreign Affairs facilitated the establishment of Indonesian African Trade Association (IATA), an initiative of some Indonesian businessmen and African entrepreneurs whose products and services are already available in the Africa market.
"We are a development driven country and we are also a business friendly country. These are our priorities and we will make every effort to ensure that we have an environment that is supportive of business. There are well over 12 Indonesian companies that have invested in Nigeria and they are all doing very well such as Indomie, Nutric C, Sokin, Mayora, Kukubima and Extra Joss, amongst others," he stated.
In her presentation at the meeting, IATA President, Ms Leny Nasser, said that the association established a business relationship between the Indonesian companies and African entrepreneurs based on mutual interests and goals.
"The aim of IATA is to create a business climate that is safe, easy and profitable. Moreover IATA's main goal is to help improve the country foreign exchange through exports products and joint ventures business. Seeing so many potential markets in Africa and the high demand for Consumers goods and Business establishment while producers in Africa are still small, IATA feels the need to establish this association as a bridge to bring International trade facilitation between the company and the buyer.
"In this partnership, the Indonesian companies and African entrepreneurs are fully supported by the Indonesian Ministry of Trade and Ministry of Foreign Affairs.
This thinking is based on the interests and opportunities of exports and imports in multiple businesses. IATA and several Indonesian companies agreed with the basis of this association which has the strength, motivation, networking, and the desire to connect the Indonesian industry to Africa and the African industries to Indonesia markets.