Indonesia Explores West African Market

Jakarta (Antara Bali) - The Indonesian Trade Promotion Center (ITPC) Lagos is exploring the West African market, which has a more stable economy and does not depend entirely on the industry and exports of crude oil.

"ITPC Lagos is targeting the market of three countries, such as Benin, Togo, and Ghana through a business meeting while promoting the 30th Trade Expo Indonesia (TEI)," Head of ITPC Lagos Nino Wawan Setiawan said in a press release received here on Monday (September 21).

In the meeting, ITPC Lagos discussed three main issues: trade, tourism, and investment.

Indonesia is a promising country for investment and business cooperation as it is the world's fourth-largest population, has a fast-growing middle class, and offers a conducive investment climate.

"Indonesia has immense potential for world investment. Moreover, the three African countries also have the potential for cooperation in trade and investment," Nino pointed out.

The ITPC invited businessmen from Benin, Togo, and Ghana to gain a firsthand glimpse of Indonesia's areas of potential through the 30th TEI exhibition to be held on October 21-25, 2015, in Jakarta.

The value of Indonesian non-oil exports to the three countries recorded a positive trend in 2010-2014.

In 2014, the value of Indonesia's exports to Benin amounted to US$213 million, while its export value to Togo in 2014 amounted to US$132.99 million, and its exports to Ghana amounted to US$212.3 million.

In 2014, Indonesia's trade balance with Benin recorded a surplus of US$182.01 million, a surplus of US$131.67 million with Togo, and a surplus of US$183.55 million with Ghana. (WDY)