African Nations Poised to Ink $3.5 Billion Trade and Investment Deals with Indonesia at Indonesia-Africa Forum

Bali, Indonesia – African nations are set to finalize trade and investment agreements worth up to $3.5 billion with Indonesia at the ongoing Indonesia-Africa Forum, a significant leap from the $600 million in deals signed during the event’s inaugural meeting in 2018. The forum, which runs until Tuesday, has become a vital platform for strengthening economic ties between the two regions.

Pahala Mansury, Indonesia’s Vice Foreign Affairs Minister, highlighted the substantial increase in the value of deals compared to previous years. “These agreements reflect the growing importance of Indonesia-Africa cooperation, especially in strategic sectors such as energy, health, and aviation,” Mansury noted in an interview last week.

Key agreements include a collaboration between Indonesian utility company PT Perusahaan Listrik Negara and Tanzania Electric Supply Co. Ltd. to develop geothermal energy projects in Tanzania. This partnership aligns with Africa’s ongoing efforts to harness renewable energy sources.

In the healthcare sector, PT Bio Farma, Indonesia’s leading vaccine manufacturer, has teamed up with Ghana’s Atlantic Lifesciences Ltd. to facilitate health technology transfer. This initiative is expected to enhance Ghana’s capacity to produce essential vaccines and medical supplies locally.

Further, Congo and Senegal are exploring the possibility of purchasing and maintaining aircraft from PT Dirgantara Indonesia, a state-owned aerospace company. This move could strengthen the aviation infrastructure in these African countries, supporting both domestic and regional air travel.

Another significant development involves Indonesia’s state-owned oil and gas corporation, PT Pertamina, which is in talks with Guma Group Ltd. to construct a power plant in South Africa. The proposed facility would utilize gas supplied from Mozambique, underscoring the potential for deeper energy cooperation between Indonesia and Africa.

Indonesia’s efforts to diversify its trade relationships beyond traditional partners like China, the US, and Japan are increasingly urgent as global economic dynamics shift. Africa, with its vast resources and strategic importance, is becoming a crucial partner in Indonesia’s ambitions, particularly in sectors like energy and technology.

In 2023, Africa accounted for only $6.9 billion of Indonesia’s exports, representing less than 3% of the country’s total exports. However, as the global landscape evolves, particularly with geopolitical tensions affecting major economies, Indonesia and Africa have an opportunity to build a more resilient and diversified global supply chain. This collaboration could be particularly significant in the production of batteries, leveraging Indonesia’s rich nickel reserves and Africa’s mineral wealth.

As the forum progresses, further announcements are anticipated, solidifying the Indonesia-Africa partnership as a critical component of the Global South’s economic future.

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