This week, Indonesia’s President is hosting six African leaders in Bali. They are aiming to create a partnership for shared growth. The Indonesia Africa Forum connects Indonesia, with its 284 million people, and Africa, home to 1.3 billion people. The focus is on investments in technology, infrastructure, electric batteries, agribusiness, education, and healthcare.
A key opportunity is the African Continental Free Trade Area (AfCFTA), the world’s largest free trade zone, covering 54 countries with a $3.4 trillion GDP. The AfCFTA will aalso enhance market access across Africa and includes advanced trade protocols.
The new digital trade protocol also opens doors for investments in tech and AI. It also features a dispute resolution system similar to the EU’s, ensuring fair competition and streamlined trade regulations.
Africa’s market is rapidly expanding and will represent a quarter of global consumers by 2050. The AfCFTA will drive investment in fast-growing economies, support industrialization, and create jobs.
The United Nations estimates that AfCFTA could boost GDP growth by up to 2%, increase intra-African trade by 52%, and create 10 to 15 million jobs. Simplified trade procedures will strengthen ties between Africa and Indonesia.
Success depends on overcoming trade barriers. Indonesia’s expertise can also help address these challenges. By working together, Africa and Indonesia can achieve significant growth.
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