Indonesia’s Trade Deals with South Africa and Nigeria
Indonesia plans to establish a relationship for trade with the African region. A few months ago, Kenya and Indonesia were having talks about establishing a trade deal with each other, which you could read all about by clicking the link over here. At present, the Indonesian government has expressed the desire to establish trade ties with two other African nations, namely South Africa as well as Nigeria.
Both countries are important for the Indonesian government as they see it as a point of entry into the African continent for trade. As such, in this article, we would be diving into the details with regards to the respective deals linked to trade cooperation.
A trade mission team from Indonesia is visiting Nigeria and South Africa from 20 July 2017 to 26 July 2017. This is part of the Indonesian government’s plan to expand trade into non traditional markets, which currently have large populations and enjoy high rates of growth. For instance, South Africa has a population of over 50 million.Nigeria, on the other hand has more than 180 million people. Africa as a whole has been experiencing a huge surge in population growth, with the the continent’s current population to more than a billion and a half people.
Trade Minister Enggartiasto “Enggar” Lukita said in a press statement that Both South Africa and Nigeria are gateways to access the larger African market.
It is also said that South Africa is a key to access the members of the Southern African Customs Union (SACU). On the other hand, partnerships with Nigeria would allow Indonesia to establish trade ties with other members of the Economic Community of West African States, also known as ECOWAS.
Trade Minister Enggartiasto “Enggar” Lukita also mentioned that Indonesia would be going to each of the African nation to sign the Preferential Trade agreement. In essence, the various countries are looking for reduction in trade tariffs as well as the presence of other trade barriers. This as a result, would allow the businesses of all the participating countries to trade easily with each other and contribute to each of the country’s economy.
Among the members of the trade mission team are from twenty one firms. Each firm has a different offer for each of the African counter part. Some of the wide array of items include, agricultural as well as automotive related products, crude oil, coffee, construction related goods, palm oil related products, paper, spices, footwear, textile products, poultry and even food processing
Trade Minister Enggartiasto “Enggar” Lukita said that that Government to Government trade deals could also become a reality as Indonesia are in need of goods such as oil and gas, along with weapons from other countries. On the other hand, the Southeast Asian nation plans to sell palm oil and transportation equipment in return to its partners
If you have a question, comment below or click here. To see more of Kargo’s various logistics services for you and your business, click here. Share this article!
Like Us on Facebook: @Kargo.co.id
Follow Us on Instagram: @kargoindo
Follow Us on LinkedIn: @kargo.co.id