Indo-Nigeria trade now $3.18bn …As Indonesia marks 68 years of nationhood

In a speech to mark his country’s 68th independence anniversary in Abuja, Haseng said the trade volume is expected to rise to $5 billion by 2015.“Nigeria is Indonesia’s second largest trade partner in Africa after South Africa. In 2011 the trade value reached $2.09 billion, accounted for 21.66 per cent of Indonesia’s total trade with […]

In a speech to mark his country’s 68th independence anniversary in Abuja, Haseng said the trade volume is expected to rise to $5 billion by 2015.
“Nigeria is Indonesia’s second largest trade partner in Africa after South Africa. In 2011 the trade value reached $2.09 billion, accounted for 21.66 per cent of Indonesia’s total trade with Africa.
“In 2012, the bilateral trade volume between the countries hit $3.18 billion, representing an increase of 50 per cent. The trade volume expected to reach $5 billion by 2015,” he said.
Haseng said the two countries in February 2013 signed multi-billion long-term agreements on airlines and aircraft maintenance. The agreements and contracts are between Indonesia’s Garuda Maintenance Facility Aeroasia and Nigeria’s Kabo Air, Max Air, Silverback Africa, Hak Air and Service Air Ltd
The two countries are also planning a $2.5 billion gas methanol and fertilizer plant in Nigeria with Pertamina of Indonesia and the Nigerian National Petroleum Corporation (NNPC) in collaboration with Eurochem Indonesia and Viva Methanol of Nigeria, he said.
Indonesia’s main exports to Nigeria include oils, paper products, pharmaceuticals, automotive parts, soaps and electronic products while Nigeria exports petroleum products, cotton and leather raw materials to Indonesia.
Haseng also said Nigeria and Indonesia will come up with strategic and implementable action plans to ensure that both countries leverage the cordial bilateral trade relationship to boost trade and increase Foreign Direct Investment (FDI).
Nigeria was the first Sub-Saharan African country to establish a diplomatic mission in Indonesia, he said, adding that Indonesia recognises the important role played by Nigeria in the region.
Speaking on areas of cooperation with Nigeria, Haseng said in March 2007 Nigeria and Indonesia signed a memorandum of understanding on cooperation between their anti-corruption commissions.
In 2010, the two countries agreed on a bilateral joint commission to promote economic, investment, trade, culture and technical cooperation.
“The Indonesian Embassy has organised some agricultural training which some Nigerians attended in Indonesia to learn and develop their skills on agriculture and take advantages of the Indonesia’s experience on agriculture which is in line with the President Goodluck Jonathan’s programme to develop Nigeria’s agriculture sector and at the end of the day, Nigeria would be able to reduce food imports and become a self-sufficient country,” he said.