"For private–state-owned enterprise cooperation between Indonesia and Africa, the target is US$3.5 billion. So far, it has reached almost US$3 billion," Indonesian Deputy Minister of Foreign Affairs Pahala N. Mansury noted in a meeting regarding the 2nd IAF here on Thursday.
The business agreement target is expected to be achieved through four priority issues, namely first, the food security sector. Indonesia has opportunities to cooperate with Africa as a non-traditional market.
Africa has potential, such as vast land and good climate, as well as potential for trade and supply chains in the food sector, namely fertilizer and biofuel development.
"Likewise in the food field. So far, PTPN (state-run plantation company) and ID Food (state-run food holding) are quite active, and of course, we want them to continue," he remarked.
The second priority issue is energy security. Mansury noted that Africa has 10 percent of the world's oil reserves.
In addition to fossil energy, there is also vast potential for cooperation in renewable energy.
"We hope there will be several developments in new and renewable energy (sources), such as solar and geothermal. They are still being explored and hopefully can be finalized," he remarked in the meeting with the Chief Editors Forum.
"Apart from that, extension of the development of upstream oil and gas is also one of the things that we hope to be carried out," he added.
In the health sector, Indonesia and Africa are said to have high needs for medicines, vaccines, and medical devices.
The deputy minister explained that there are several forms of cooperation in the field of health, including the Indonesian-made Polio vaccines that are sent to Africa.
Furthermore, critical mineral security is the fourth sector that is prioritized in the two countries' cooperation. Both Indonesia and Africa have critical mineral reserves for energy transition, such as nickel, cobalt, graphite, and manganese.
According to Mansury, the potential that can be developed includes the supply chains for the production of electric vehicle components and batteries.
"Hence, 55 percent of the world's cobalt reserves are in Africa. This is one of the things that are in accordance with Indonesia's efforts to build downstreaming, especially critical mineral downstreaming," he remarked.
Indonesia will host the 2nd IAF in Nusa Dua, Bali, on September 1–3, 2024, with the theme of Bandung Spirit for Africa's Agenda 2063, with six heads of state or government from Africa planning to attend the event.
The 2nd IAF is expected to result in cooperation in various sectors between Indonesia and African countries, business agreements between private and state-run companies, as well as a design for Development Cooperation with Africa in 2024–2029.
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Translator: Bayu Prasetyo, Raka Adji
Editor: Azis Kurmala
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