Indonesia reiterates commitment to boost Nigeria’s economy
Indonesia Minister of Foreign Affairs, Mrs. Retno Marsudi has reiterated the commitment of her country to strengthen business relationship with Nigeria in order to boost Nigeria’s economic development.
Marsurdi disclosed this in Lagos recently while signing a Memorandum of Understanding at the Nigeria -Indonesia Business Forum, stressing that since Nigeria and Indonesia established bi-lateral relationship in 1965 the relationship has grown from strength to strength but the cooperation is yet to be fully reflected in the value of the bilateral trade which has continued to decline as in 2012 it was $3.18 billion compared to $1.59billion saying the decline is more than 50 percent.
“Indonesia is the largest and most dynamic economy with a GDP of $861 and growing five percent, Nigeria’s GDP of $586 strong economy and 182 million population. We have all the energy and potential to enhance our economic cooperation in order to transform our strong political relation to something that will be beneficial to our people”, she said.
President of Nigeria Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson said the relationship will enhance strong economic relation between Indonesia and Nigeria because of the abundance of natural resources in both countries.
She said the decline in the trade volume can be attributed to the fall in price of crude oil which is an indication that crude oil forms important point of trade between the two countries.
“Nigeria is currently focused on the diversification programme to diversify the country’s revenue from crude oi; to promote Agriculture and solid mineral sector as well as improve infrastructure.
The current agenda of the Federal Government will open more opportunities for this kind of partnership , Nigeria remains an investment destination and hub in Africa and NACCIMA will work to ensure that the objectives of this business forum are realised to the benefit of the Nigeria people,” she said.
