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Indonesia Seeks Improved Bilateral Trade With Nigeria

Indonesian Ambassador to Nigeria, Usra Harahap, has sought for stronger partnership with Nigeria to strengthen and improve the untapped potential of bilateral trade growth.

Addressing journalists in Lagos to announce the Trade Expo Indonesia (TEI) 2023 scheduled to be held from October 18 to 22, 2023 in Indonesia, Harahap said while the trade volume between Nigeria and Indonesia hit $4.78 billion in 2022, there is a need for more improvement.

Harahap said Indonesia’s import from Nigeria stood at $4.32 billion while export from Nigeria to Indonesia was $459 million last year.

He said the current trade volume reflects the high untapped potential of Indonesia and Nigeria trade which he said could be further improved going forward into 2023.

According to him, the huge volume of trade realised at the TEI 2023, which was $15.8 billion, shows the confidence Indonesia has in Nigeria as a strategic partner, while predicting that Nigeria stands a better chance in 2023 to stake higher trade volume owing to its huge and rich market potentials.

He said this is also a call to other countries to key into this opportunity and attract more business partnerships with Indonesia.

Harahap pointed out that the TEI 2023 is a continuation of the previous edition, which will further present seven product zones which includes food and beverages; fashion, textile and accessories; chemical, energy and industrial Product; Beauty and Personal Care; medical equipment and healthcare; home living; digital and services.

He noted that a series of business programmes would be running parallels such as international seminars, business matching and counseling, and international and local trade missions, each of which will create business networking opportunities.

Harahap further stressed that the expo presents a unique platform for businesses worldwide, unlocking enhanced trade prospects and investment avenues.

Also speaking, the Director, Indonesia Trade Promotion, Lagos, Mr. Hendro Jonathan, said the trade between Nigeria and Indonesia is growing exponentially, adding that both countries must seek better and improved ways to strengthen bilateral trade relationships.

Source: The Guardian