"By developing infrastructure, increasing trade integration, and advancing bilateral investment agreements, we are laying the foundation for a bright and prosperous era," he said at the Indonesia-Africa Parliamentary Forum (IAPF) session in Bali on Sunday.
He further highlighted the unity between ASEAN and African countries, noting that their efforts towards independence and development began in 1955 when Indonesia hosted the Bandung Conference -- an important moment in the anti-colonial and non-aligned movements.
He said that economic cooperation between ASEAN and Africa is influenced by their unique history and current global geopolitical conditions that affect trade, investment, and regional stability.
Although there has been progress in ASEAN and Africa cooperation, he acknowledged several challenges that require increased trade integration and innovation for economic growth and investment.
“As we look to the future, let us continue to align our sustainable and inclusive investments and resources that benefit both our regions,” Roeslani said.
Based on the ministry's data, Indonesia has invested US$2.09 billion in several African countries, with some Indonesian companies operating in eight African countries.
Strategic investments include state-owned energy company PT Pertamina in Kenya and Tanzania, PT Medco Energi in Mozambique's oil and gas industry, and PT Biofarma and PT Wings Group in the pharmaceutical and consumer goods sectors in Kenya.
In return, African investment in Indonesia has reached US$1.73 billion.
Indonesia is exporting processed goods to Africa while importing raw materials from the continent.
Indonesia is also advancing bilateral investment agreements with African countries to ensure a stable investment climate, Roeslani revealed.
So far, there are three bilateral investment agreements in the pre-negotiation stage, four in the ratification stage, and two agreements are active.
"These agreements are key to protecting and encouraging our investments. Our natural resources complement each other," he said.
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Translator: Kuntum Khaira Riswan, Yashinta Difa
Editor: Aditya Eko Sigit Wicaksono
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