The Republic of Indonesia has rekindled its bilateral economic cooperation with Nigeria with the signing of a Memorandum of Understanding on business exploration between both countries.
The MoU, signed during the Indonesia-Nigeria Business Forum held in Lagos recently, was witnessed by the Ambassador of the Republic of Indonesia to Nigeria, Mr. Harry Purwanto; Indonesia’s Foreign Affairs Minister, Mrs. Retno Marsudi, delegations of business communities from both countries among other stakeholders.
The Acting Director-General, National Agency for Food and Drug Administration and Control, Dr. Yetunde Oni, was at the event.
The Indonesian ambassador said he believed that since the two countries shared some commonalities in terms of natural resources, the time was up for them to leverage these for the prosperity of their citizens.
Purwanto said, “Given that Nigeria and Indonesia share many commonalities, it is high time for us to work together using our activity and initiatives to transform our relationship for something concrete that will bring mutual progress, prosperity for the people of both countries.
“I attach great importance to this meeting to be translated into action in continuity and making our relationship mutually beneficial.
According to the ambassador, Nigeria is one of its key trade partners in Africa, adding that aside many Indonesian companies operating in Nigeria, his country sells some items to the Nigerian market.
Among these, he said, were building materials and palm oil.
Indonesia’s Minister of Foreign Affairs, Mrs. Retno Marsudi, noted that since the establishment of bilateral relationship between the two countries in the mid 60s, their political relationship had grown.
She, however, lamented the sharp decline in the volume of trade between the two countries.
She said, “Indonesia is the largest and most dynamic economy with a Gross Domestic Product of $861bn and growing at five per cent, Nigeria’s GDP of $586bn is strong with 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.”