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Indonesia lures nontraditional African markets
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Vice President Jusuf Kalla (center), accompanied by Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan (right), speaks to participants of the Indonesian-African Forum (IAF) in Nusa Dua, Bali on the sidelines of the opening ceremony of the event on April 10, 2018. (JP/ Nyoman Budhiana)
P
resident Joko “Jokowi” Widodo has said Indonesia is ready to cooperate with countries in Africa in the face of the global trade war, as Indonesia seeks new opportunities to expand its trade and investment portfolio in nontraditional markets.
Jokowi officially opened the 2019 Indonesia-Africa Infrastructure Dialogue (IAID) in Nusa Dua, Bali on Tuesday.
"The heated trade war and global economic crisis, conflicts between countries, [and] development gaps have caused uncertainty. Indonesia and Africa must agree to strengthen solidarity to improve the region and the world. We have to work hard to turn uncertainty into certainty,” he said in his opening speech, as quoted from a press statement.
Having started early last year, the ongoing trade war has seen China and the United States impose sanctions and tariffs on each other. It has caused a slump in Southeast Asian exports, economists have said. Bloomberg reported that the region’s economy was seen weakening to 4.8 percent this year and 4.7 percent in 2020 from 5.3 percent last year, according to Oxford’s lead Asia economist Sian Fenner. Africa, meanwhile, has been largely ignored in the US-China trade war.
Indonesia, Jokowi said, is a true friend of African countries and stands ready to become partners to improve the welfare of African people by building infrastructure and boosting trade on the continent.
"Indonesia is ready to share experiences and help to build infrastructure. Indonesian [state-owned companies] and private companies have sufficient strength and experience,” he said.
The two-day 2019 IAID was attended by around 700 business leaders, policymakers, senior government officials and ministers, as well as other stakeholders from Indonesia and Africa. The participants discussed concrete efforts that could be made to improve economic diplomacy, connectivity, social infrastructure and tourism, energy and mining, financing schemes, as well as trade and development cooperation.
