Indonesia targets Nigerian market: Minister

Lagos (ANTARA News) – Trade Ministry is now targeting the Nigerian market to serve as the alternative for exporting the Indonesian products, Trade Minister Enggartiasto Lukita stated here on Tuesday.

As one of the developing countries, Nigeria has some market potentials, including the large populations, Lukita remarked.

The minister further said the Indonesian companies should take the opportunities to expanding their businesses in Nigeria.

In order to actualize the plan, the ministry, according to Lukita, would facilitate further meeting between two countries companies.

“The economic forum has served as a good option to bring together the two countries companies,” Lukita told Antara in Lagos, Nigeria on Monday local time.

The two countries earlier had held an economic forum on establishing Nigeria as a business hub for the West Africa region.

About 300 participants, including the companies, the governments representatives, and the trade chambers attended the forum.

During the event, some 21 Indonesian companies had promoted their products to the Nigerian firms.

In 2016, the total trade volume of two countries reached US$1,6 billion, with US$310.8 million exports and US$1.28 billion imports to Indonesia. Meanwhile in term of non-oil and gas sector, Indonesia received surplus of US$302.72 million.

Indonesia had exported some products, including paper, palm oil and its derivations, medicines, and spices to Nigeria.

A similar forum, previously, had been held in South Africa, and as a result, about eight Indonesian companies, including PT Wijaya Karya (Wika) would launch a further cooperation with the South African companies.

Apart from Wika, Rainbow Roof would also sign a trade agreement with the South African distributor companies.

“We hope the meeting would pave the way for Indonesian companies to expand not only in some connecting countries, but also target all markets in Africa,” Lukita noted.

Hence, the Indonesian government has prepared some schemes, including the counter trade mechanism to improve the exports to Nigeria.

The scheme would allow some products such as oil and gas to be swapped with the defense instruments, vehicles and other transportation modes, and palm oils.

Source: Antara News