LAGOS - Nigeria is exploring the possibility of obtaining some agricultural supplement products from Indonesia, such as plant vitamins and livestock vitamins. Nigeria seems to have welcomed this opportunity. This is summarized in a business matching survey between Indonesia and Nigeria which was held on a hybrid basis in Ikeja, Nigeria, Friday (22/7). The assessment was initiated by the Indonesian Trade Promotion Center (ITPC) Lagos and The Nigerian Association of Chamber of Commerce, Industry, Mines, and Agriculture (NACCIMA), and supported by the Indonesian Embassy (KBRI) Abuja.
“There is still a lot of room and opportunity for improvement, especially for Indonesian products such as agricultural supplements. With this business exploration, it is hoped that Nigeria and Indonesia can take advantage of each other's potential to develop trade relations between the two countries," explained Indonesian Ambassador to Nigeria Usra Hendra Harahap in his remarks from the Indonesian Embassy in Abuja.
In this business exploration, Indonesia was represented by fertilizer producer PT Turrima Agro Mas, automotive component producer PT Astra Otopart, agricultural vehicle manufacturer PT Kreasi Mandiri Wintor Indonesia, and cashew nut importer PT Artisan Vii Agroindustri. While from Nigeria, all members of NACCIMA attended. The business forum was attended by more than 100 participants from NACCIMA members and several Indonesian SMEs.
In 2021, the total trade between Indonesia and Nigeria was recorded at USD 2.5 billion and experienced a positive growth of 59% from 2021. This was contributed by Indonesia's exports to Nigeria amounting to USD 463 million. In January-May 2022, the total trade between Indonesia and Nigeria was recorded at USD 2 billion. This value increased by 92 percent compared to the same period the previous year. The high growth in total trade between the two countries contributed by Indonesia's total exports to Nigeria reaching USD 287 million with a growth of 1.7 percent compared to last year. (LM)