• Tuesday, June 18, 2024
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Nigeria –Indonesia to deepen $4.7bn trade balance with investment forum

Nigeria –Indonesia to deepen $4.7bn trade balance with investment forum

The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) has said that the 2024 Nigerian-Indonesian investment and trade forum will help deepen the balance of trade between both countries, which currently stands at $4.7 billion.

Ishmael Balogun, president of NICCI said the vision of the chamber is to promote bilateral trade and investment between Nigeria and Indonesia.

According to him, the NICCI has been able to position Nigeria as Indonesian number one Indonesian investment destination in Africa.

Read also: Distilling Governor Mbah’s investment pilgrimage to Indonesia

In line with the federal government’s drive to boost non-oil earnings, Balogun disclosed that the 3rd edition of the Nigerian-Indonesian investment and trade forum scheduled for Monday, June 3, 2024, in Abuja will help businesses address some of the issues limiting non-oil exports.

He stated that the forum will pay keen attention to how Nigerian businesses can tap opportunities in the non-oil sector.

He said that a panellist session with industry professionals on the topic ‘Opportunities in Nigeria’s Non-Oil export sector’ to explore opportunities in the non-oil sector to boost the country’s non-oil earnings and improve the balance of trade between Nigeria and Indonesia.

Balogun further said that the panel session will be followed by an award ceremony and a Business-Business, Business-Government and Government-Government synchronized sessions. He further disclosed that the keynote address will be delivered by President Bola Tinubu.

According to Balogun, about 70 Indonesian companies have been invited to Nigeria in collaboration with the Indonesian government through the Ministry of Trade and Foreign Affairs. “This year, we have decided to bring Indonesians to experience Nigeria in its full entirety. To this extent, NICCI has partnered with the Indonesian embassy in Nigeria.

“The year’s edition starts with a five-day trade expo taking place at the Afficent event Centre in the ancient city of Kano from the 27-31st of May 2024.”

“Several products and services from Indonesia will be on display for Nigerians to explore thereby promoting bilateral trade opportunities.”

Usra Hendra Harahap, Indonesian ambassador to Nigeria, said that the embassy will support initiatives to seek to grow the balance of trade between Nigeria and Indonesia.

According to him, Indonesia has been a consistent trade partner and a supporter of Nigeria’s economic growth.

Harahap, who was represented by Emmanuel Lingga, said that the 2024 trade expo will expose businesses to opportunities available in both countries.

“The embassy is committed to ensuring that the Nigeria-Indonesia investment and trade forum is a success and would strengthen economic ties between both countries.”