The second Indonesia-Africa summit opened on 1 September 2024 in Bali, Indonesia. Seven African heads of state are taking part, including Rwandan President Paul Kagame, who affirmed Rwanda’s willingness to welcome and facilitate Indonesian investment. The meeting will result in the signing of investment agreements worth a total of 3.5 billion dollars with African countries.
In Rwanda, where foreign investment will account for 26.2% of GDP in 2023, it remains a key strategy for stimulating economic growth. Rwandan President Paul Kagamé, who took part in the Indonesia-Africa summit in Bali on 1 September 2024, reiterated in his speech his country’s willingness to welcome and facilitate Indonesian investment, particularly in the high-tech sector, underlining the benefits of this partnership for both parties. In 2023, the value of trade between Rwanda and Indonesia increased by 100% and in the first quarter of 2024, it increased by 32%, according to the Ministry of Foreign Affairs of the Republic of Indonesia.
“Rwanda is open to all those who would like to invest here and we welcome Indonesian economic operators. We would like to see African students come to Indonesia to pursue their science and technology studies, and also to work on some small projects here in Indonesia.”
PAUL KAGAME, President of the Republic – Rwanda
In 2023, the value of Indonesia’s trade with Africa was just 13.7 billion dollars, representing just 2.9% of Indonesia’s total trade. To improve this trade the 2nd Indonesia-Africa Forum (IAF) is expected to generate cooperation commitments worth USD 3.5 billion, up from USD 568 million at the first forum in 2018.
“We are seeing Indonesia take the lead in education technology and innovation creation. But we are also noticing that there are still few Indonesian business enterprises on the African continent and that the business opportunities found in Indonesia are not easily accessible to private sector players in Africa. This should change.”
PAUL KAGAME, President of the Republic – Rwanda
Six African heads of state, including the presidents of Rwanda, Ghana and Liberia, are taking part in the Indonesia-Africa Forum, which will provide an opportunity to strengthen bilateral relations, formulate strategic measures and make joint efforts to tackle increasingly complex global challenges.
