Indonesia's Foreign Affairs Minister Retno Marsudi. (Photo: Reuters)
Jakarta (VNA)🥀 – Indonesia and Nigeria need to bolster bilateral trade relationsand investment, said Indonesian Foreign Affairs Minister Retno Marsudi on June5.
Theofficial made the statement during her meeting with her Nigerian counterpartGeoffrey Onyeama in Abuja, Nigeria, according to Indonesian Ministry of ForeignAffairs. Indonesia-Nigeriaties have been thriving for 52 years, benefiting people of the two countries,while potential for trade cooperation and investment between the two remains high. Thetwo countries need to enhance bilateral trade cooperation through preferentialtrade agreements, the Indonesian minister added. Toimprove market access for Indonesian products in West African countries, Retnoexpressed her hope that Nigeria will help Indonesia form a preferential tradeagreement between Indonesia and the Economic Community of West African States. Loweringtariffs and eliminating non-tariff barriers will increase bilateral trade, aswell as trade between Indonesia and countries in West Africa. Nigeriais the largest oil importer of Indonesia in southern Saharan Africa. During themeeting, two ministers also discussed measures to improve oil and gas trade,which until now is done via a third country. Retnoproposed the two countries form a direct trade mechanism for oil and gas anddevise a trade plan to boost bilateral trade. Nigeriahas strived to diversify its economy via agriculture and palm cultivation.Indonesia said it is ready to cooperate in palm oil industry development inNigeria and invites the country to join the Council of Palm Oil ProducingCountries, established by Indonesia and Malaysia. Nigeriais Indonesia’s biggest trade partner in southern Saharan Africa, with bilateraltrade value reaching 1.5 billion USD last year.-VNA
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Indonesia's Foreign Affairs Minister Retno Marsudi. (Photo: Reuters) 
