Indonesia plans to boost trade with Nigeria

   

A senior official at the trade ministry said on Friday that Indonesia has planned to enhance trade with Nigeria, targeting bilateral trade volume at 5 billion U.S. dollars within the next three years.

Trade enhancement with Nigeria is based on the facts that both Indonesia and the African country have large populations and have continued to see high economic growth in the last few years.

The move was also part of the Indonesian government's plan to seek alternative markets for its exports following the economic downturns in Europe and the United States, two economies that have been major markets for Indonesian commodities.

Sectors that have been picked up to enhance trade with Nigeria are food and beverages, energy and related business and airplane maintenance to facilitate connectivity between the two countries, Nus said.

Indonesia exports oil, vegetable fats, paper products, pharmacy, soaps, electronics to Nigeria, while Nigeria exports oil, cotton and leather to Indonesia.