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Indonesia’s non-oil trade with Nigeria hits $448m

By on August 3, 2013

Total volume of non-oil and gas trade between Indonesia and Nigeria in 2012 is valued at $448.6 million, with a target to increase the figure by 12 percent in 2013.

Director, Indonesian Trade Promotion Centre (ITPC), Embassy of the Republic of Indonesia, Lagos, Mr. Pontas Tobing, disclosed this at a press briefing in Lagos to herald the 28thTrade Expo Indonesia billed for October 16 – 20 in Jakarta. He noted that overall trade balance between the countries is currently tilted in favour of Nigeria because Indonesia imports oil and gas from Nigeria.

The trade expo attracted more than 5.000 buyers from over 90 countries last year, and generated in total trade transactions valued at over $1 billion, while targeting transactions amounting to $2 billion this year.

He noted that last year, Nigeria recorded the highest attendance at TEI 2012, with over 200 businessmen and women in attendance, representing 27.27 percent of total attendance, adding that the target this year is 500 selected business participants from Nigeria. He said there are presently more than 12 Indonesian companies that have invested in Nigeria, with majority of the staff Nigerian citizens.

Tobing said that the Trade Expo is a good avenue to improve trade relations between Indonesia and Nigeria. According to him, with a population of 250 million, active workforce of about 150 million, a landmass five times the size of Nigeria, and GDP of $5,000, Indonesia offers great business opportunities for discerning Nigerian entrepreneurs.

“Trade Expo Indonesia (TEI) is an annual B to B export product exhibition organised by the Ministry of Trade of the Republic of Indonesia in cooperation with the Ministry of Industry and Indonesian Investment Coordinating Board to encourage business and trading activities in a variety of products and services, expanding business networks and exchange the unexploited and untapped business potentials that exist in the Republic of Indonesia,” he stated.