REPUBLIKA.CO.ID, JAKARTA - Government of Indonesia encourages businessmen to invest in Nigeria to access the market of developed countries such as US. Nigeria has facility to enter US market with lower import tarrif, Chairman of Indonesia's Investment Coordinating Board, Chatib Basri, said on Wednesday.
Its big population within 167 million to 170 million people is another reason that makes the domestic consumption promising. "So far, domestic oriented products, such as instant noodle, Dexa (pharmacy) and garment have good market there," Basri said.
However, Indonesian investors need special agreement to guarantee their must be protected through agreement between both countries. Basri said Indonesia and Nigeria were drafting the agreement in the form of Bilateral Investment Treaty.
From January-October 2012, Indonesia-Nigeria trade balance suffered deficit worth 2.06 million USD due to the deficit on oil and gas trade in the amount of 2.37 million USD. Meanwhile, the surplus of non oil and gas trade was 306,240 USD.
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