Indonesia-Nigeria-Chad Business Forum Charts Path for Enhanced Trade Partnerships

The Indonesia-Nigeria-Chad Business Forum, held in Jakarta, brought together key business leaders, policymakers, and trade experts from the three nations to explore strategies for boosting economic cooperation. With the theme “Unlocking Trade Potential: Strengthening Indonesia, Nigeria & Chad Trade Partnerships for a Prosperous Future,” the forum was a significant platform for discussing how to improve trade relations and overcome logistical challenges that hinder seamless commerce between these regions.

The Indonesian Ambassador to Nigeria, H.E. Dr. Usra Harahap gave the welcome remarks followed by Mardyana Listyowati, Director General, National Export development, Ministry of Trade, Indonesia.

One of the main highlights of the forum was the keynote address delivered by Mr. Ishmael Balogun, President of the Nigerian Indonesian Chamber of Commerce and Industry (NICCI). He reflected on NICCI’s efforts since 2018 to enhance trade relations between Nigeria and Indonesia, positioning the chamber as a key facilitator in the development of bilateral trade partnerships.

Mr. Balogun outlined NICCI’s achievements, noting the chamber’s role in organizing trade fairs, investment forums, and business-to-business meetings that have strengthened ties between businesses in both nations. He mentioned NICCI’s pivotal contribution to launching the Nigerian-Indonesian Investment and Trade Forum (NIITF), which has grown into a premier platform for fostering trade relations between Nigeria and Indonesia. “We have seen tremendous growth over the years, with new partnerships forming and significant investments flowing between our countries,” said Mr. Balogun.

In another key presentation, by the representative of PrimeNext Logistics Mr. Sulaimon Ayinde Babatunde highlighted the critical role logistics play in trade facilitation, emphasizing the need for better infrastructure and streamlined processes to unlock the full potential of trade between Nigeria and Indonesia. The representative from PrimeNext Logistics pointed out that, while trade between the two countries has been significant, it has not fully reached its potential due to logistical bottlenecks.

PrimeNext also focused on the broader importance of logistics, describing it as the backbone of trade. The company discussed how logistical challenges such as slow customs processes and outdated port facilities inflate trade costs and slow down the movement of goods. They advocated for public-private collaborations to invest in modern port infrastructure and create direct freight links between Nigeria and Indonesia, which would bypass third-party countries and result in faster and cheaper transportation.

In addition, PrimeNext representative Mr. Sulaimon Ayinde Babatunde, emphasized the importance of digitization in trade, with the introduction of real-time tracking systems that would allow businesses to monitor their shipments more effectively. This would increase transparency and reliability, making trade operations more efficient and predictable for businesses on both sides. Both NICCI president and Prime Next logistics representative expressed a shared vision of future trade relations between Indonesia, Nigeria, and Chad.

NICCI, in particular, highlighted its role as a catalyst for trade, providing businesses with platforms to connect and explore new markets. Mr. Balogun stressed that NICCI’s initiatives, such as the NIITF, would continue to promote innovation and create opportunities for businesses in both nations.

The Indonesia-Nigeria-Chad Business Forum successfully outlined the roadmap for future trade relations, focusing on how logistical improvements and strategic partnerships could unlock new opportunities for businesses. With NICCI and PrimeNext Logistics leading the way in addressing key challenges, the forum laid the foundation for a prosperous and integrated trade relationship between Indonesia, Nigeria, and Chad.

The forum culminated in the signing of several MOUs worth millions of dollars across various sectors of the economy.

Highlight photo grid of the event