(Ecofin Agency) - The Republic of Indonesia has expressed readiness to expand and promote trade relations with Nigeria which has a large population and high growth rates. In this framework, the country is sending a trade mission team to the West African nation from July 20-26, 2017.

In a press statement on Wednesday, Trade Minister, Enggartiasto Lukita (photo), explained that the visit was scheduled to fast track the signing of preferential trade agreements (PTA) between the two countries as Nigeria is the gateway to accessing big African market like ECOWAS. He said representatives from 21 firms will join the team and will offer agricultural and automotive products and finance, among others,

According to Lukita, there is also possibility for a government to government trade as Indonesia needs oil and gas as well as weapons from the country. The Southeast Asian nation will in turn sell transportation equipment and palm oil to the West African country.

Nigeria has a population of over 182 million people. Last year, Indonesia saw a $969.2 million trade deficit with Nigeria due to oil and gas imports from the country.

Indonesia also intends to increase trade relations with South Africa.

Anita Fatunji