JAKARTA (Reuters) – Indonesia is set to boost economic cooperation with African countries by signing business deals worth $3.5 billion at the second Indonesia-Africa Forum in Bali, according to President Joko Widodo.
The forum, taking place until Sept. 3, aims to expand Indonesia’s export markets and strengthen trade ties with African nations.
“The partnership between Indonesia and Africa has led to a significant increase in trade volumes and agreements,” President Widodo stated during the forum’s opening speech on Monday.
Key agreements expected to be signed include a geothermal project between Perusahaan Listrik Negara and Tanzania Electric Supply Company (TANESCO), as well as a partnership between Indonesian pharma company Bio Farma and Ghana’s Atlantic Lifesciences Ltd, as per Indonesia’s foreign ministry statement.
Increased airport surveillance measures have been implemented by Indonesian authorities to prevent the spread of mpox during the forum. The mpox outbreak was a topic of discussion at the Indonesia-Africa Parliamentary Forum over the weekend, as reported by state news Antara.
Analysis: Indonesia’s focus on strengthening economic ties with African countries through multi-billion dollar business deals demonstrates the country’s commitment to expanding its global trade network. These agreements not only benefit both parties involved but also have the potential to boost economic growth and create new opportunities for investment and development. As global markets continue to evolve, such partnerships play a crucial role in shaping the future of international trade and cooperation.