Yinka Kolawole, reporting for Vanguard Media in Nigeria, writes that trade volume between Nigeria and Indonesia jumped from USD 2.61-billion in 2021 to USD 4.78-billion in 2022 – a leap of 83-percent, underlining the huge trade potential between the two countries.
To further boost trade relations between the countries, the Nigeria Indonesia Chamber of Commerce and Industry (NICCI) in collaboration with the Indonesia Trade Promotion Centre (ITPC) and the Indonesian Embassy in Nigeria have announced plans to host the 2023 Trade Expo Indonesia (TEI 2023).
The TEI 2023, which is the 38th edition, is scheduled to hold from October 18 to 22, 2023 in BSD City, Tangerang, Indonesia.
Speaking at a press conference to announce the upcoming event in Lagos, Indonesian ambassador to Nigeria, Dr. Usra Harahap, noted that TEI 2023 is a pivotal event fostering international economic collaboration. According to him, the Expo presents a unique platform for businesses worldwide, unlocking enhanced trade prospects and investment avenues, report Vanguard Media.
Harahap said that “in 2022, the trade volume between Indonesia and Nigeria was USD 4.78-billion of which the total imports to Indonesia from Nigeria amounting to about USD 4.32-billion and exports from Indonesia to Nigeria at only USD 459-million. Therefore, it reflects the high untapped potential of Indonesia and Nigeria trade which could be further improved.”
“In 2022 with the huge volume of trade realized at the TEI event that reached USD 15.8-billion, we are confident that Nigeria as a strategic partner with Indonesia, having a huge and rich market potential, stands a better chance in 2023 to stake a higher trade volume than the previous year.”
Vanguard Media report that Harahap added that TEI 2023 is a continuation from the previous edition which will further present 7 product zones: Food & Beverages; Fashion, Textile & Accessories; Chemical, Energy & Industrial Product; Beauty & Personal Care; Medical Equipment & Healthcare; Home Living; Digital & Services.
“We welcome the active participation of diverse sectors of the Nigerian business community in playing a more active and engaging role this year in the presentations, seminars and speeches at the international business forum in TEI,” he added.