Indonesia aims to strengthen business cooperation with African countries

Indonesia aims to reach business deals worth 56.7 trillion IDR (3.5 billion USD) between various industries of Indonesia and African countries through the second Indonesia-Africa Forum (IAF) slated for September.

Friday, August 09, 2024 16:57

Jakarta (VNA) – Indonesia aims to reach business deals worth 56.7 trillion IDR (3.5 billion USD) between various industries of Indonesia and African countries through the second Indonesia-Africa Forum (IAF) slated for September.

Addressing a press conference about the forum on August 8, Indonesian Deputy Foreign Minister Pahala Mansury said that the country hopes for about 3.5 billion USD worth of joint projects between Indonesia and African partners in various fields such as fertilizer and energy.

The official said that in addition to the value, Indonesia is also aiming to reach government-to-government (G2G) agreements between Indonesia and Africa, including the ratification of free trade agreements (FTAs) with several countries that are currently in the final stages.

Indonesia also targets the launch of a major plan for development cooperation between Indonesia and Africa during the second IAF, he said, adding that the economies of Indonesia and Africa, with a combined population of 1.4 billion people and a total GDP of 4.4 trillion USD, have great potential that needs to be further tapped.

Pahala said that representatives from seven African countries, namely South Africa, Algeria, Kenya, Egypt, Mozambique, Nigeria and Tanzania, will deliver their speeches at the second IAF.

Indonesia has invited 222 business delegations representing the public and private sectors from many African countries to attend the forum.

Besides, Indonesia will also organise exhibitions of products by domestic industries to promote exports to Africa, said Pahala.

Following its first addition in 2018, the second IAF will be held on September 1-3 in Bali with the theme "Bandung Spirit for Africa's Agenda 2063", economic transformation, energy and mining, food, health resilience, and development cooperation. It will take place concurrently with the High-Level Multi-Stakeholder Partnerships Forum (HLF MSP) Forum. President Joko Widodo is expected to attend the event’s opening./.

VNA

#Indonesia #Indonesia-Africa Forum (IAF) #African countries

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