REPUBLIKA.CO.ID, NUSA DUA -- The Indonesia-Africa Forum (IAF) 2018 recorded business deals worth US$586.56 million between Indonesia and several African countries. The value of the business deals was announced during the opening ceremony of IAF 2018 at the Nusa Dua Bali Convention Center in Nusa Dua, Bali, on Tuesday.

The business deals reflect mutually beneficial concrete economic cooperation and mark the start of collaboration and cooperation to strengthen economic growth between Indonesia and Africa.

The business deals amounting to $586 million cover several agreements, such as between Indonesia Eximbank and The African Export-Import Bank, Indonesia Eximbank and Standard Chartered Bank, PT Wijaya Karya and Chief of Cabinet of Niger, PT Timah and Topwide Ventures, Garuda Maintenance Facility Aeroasia Max Air and Ethiopian Airlines, as well as PT International Trading Company and Madagascar Madarach.

At the opening of the IAF in Nusa Dua, Bali, the business plan worth $1.3 billion was also announced between Indonesian and African businesses.

The business plan is carried out by several parties, including PT Wijaya Karya in Niger, Algeria, and Mozambique; PT PAL Indonesia in Gabon, Guinea-Bissau, and Senegal; PT Pertamina in Nigeria; PT INKA in Zambia; Indonesian Eximbank and ICIEC in 24 countries; and Ethiopian Airlines for direct flights on the Addis Ababa-Jakarta route.

During a series of IAF activities held on Tuesday (April 10), a panel of discussions between Indonesia and African countries on policy making and perspectives on strategic topics, such as economic diplomacy, infrastructure development, financing facility initiatives, digital transformation, and strategic industries, will be held.

Furthermore, on the second day of the IAF on Wednesday (April 11), an Indonesia-Africa Business Forum will be held to discuss important topics, such as connectivity, digital economy, agriculture, Small and Medium Enterprises, South-South and Triangular Cooperation, and the future of Indonesia-Africa economic relations.

During the forum, ministers, high-level officials, CEOs, bankers, and leaders of the Chambers of Commerce and Industry of Indonesia and African countries will discuss and exchange ideas.

Minister of Foreign Affairs Retno Marsudi has welcomed CEOs and business representatives from Africa, including Ethiopian Airlines, Topwide Ventures Limited, Africa Export-Import Bank, and Amirco Commercial Service.

The IAF is an event being held for the first time by the Indonesian government to serve as a platform to encourage concrete economic cooperation between Indonesia and African countries.

IAF is being held in line with President Joko Widodo's directive to ensure that Indonesia can penetrate non-traditional markets, especially Africa. The Government of Indonesia seeks to utilize its political proximity with African countries to intensify economic relations.

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