Indonesia- Nigeria Foreign Economic Relations: A Partnership for Economic Development

DOI

10.2991/uicosp-17.2017.35How to use a DOI?

Keywords

economic relations, development trade, indonesia, nigeria

Abstract

Bilateral relations between Federal Republic Nigeria and Republic of Indonesia is traced to 1965 when Indonesia opened its first diplomatic mission in Sub Saharan Africa in Lagos Nigeria, Nigeria reciprocated in 1976 by opening a diplomatic mission in Jakarta. Since then Nigeria-Indonesia has enjoyed fruitful diplomatic and economic relations. These paper aims to investigate the volume of bilateral economic agreements and trades between both countries. The paper utilises secondary sources of data. The research finding shows that both countries enjoy several bilateral economic relations, in 2001 both countries signed Economic and Technical Cooperation agreement for establishing a Joint commission. Also, Nigeria was Indonesia's largest trade partner in Africa as at 2014 with total trade volume standing at USD 3.9 million. Also, notable Indonesia companies in Nigeria includes Sayap Mas Utama, Indorama, Kalbe Farma and Dufil (Indomie) which is the largest producer of noodles in the country. This shows that Indonesia has significantly invested in industrialisation via non-oil sector the study thereby concludes that Nigeria can learn from Indonesia to improve its drive for non-oil export towards facilitating economic development.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ismail Bello
AU  - Kabir Umar Musa
AU  - Asma'u Isyaku Dutse
AU  - Muktar Bashir
PY  - 2017/10
DA  - 2017/10
TI  - Indonesia- Nigeria Foreign Economic Relations: A Partnership for Economic Development
BT  - Proceedings of the Unhas International Conference on Social and Political Science (UICoSP 2017)
PB  - Atlantis Press
SP  - 126
EP  - 129
SN  - 2352-5398
UR  - https://doi.org/10.2991/uicosp-17.2017.35
DO  - 10.2991/uicosp-17.2017.35
ID  - Bello2017/10
ER  -