Asia-Africa business summit, exploring business opportunities for two continents

One of the main objectives for the commemoration of the Bandung Conference is turning the spirit of togetherness that was formed 60 years ago, into real world benefits. The Asia-Africa business summit is the realization of that.

On Tuesday, Indonesian President Joko Widodo gave an opening speech at the business summit. He said Asia and Africa have huge potential and are to play bigger roles in the world economic arena.

A love song for an instant noodle… This London based rapper who goes by his youtube handle j2ocean is singing about an Indonesian made noodle, Indomie. A staple in a lot of Indonesian household and side stalls, it has broken through markets, as far away as Nigeria, Where the noodle has become part of popular culture and a staple.

“I think the success by indo food is a testimony that we need to look outwards, we should be looking to new markets not just traditional markets.” said Suryo Sulisto, Chairman of Indonesian Chamber of Commerce.

This is the sort of market penetration that the asian african business summit aims to spur. Attended by around 600 private businesses and governmental agencies, it creates a venue for businesses from the 2 continents to meet and explore opportunities. This is to counter the biggest stumbling block of trade between the 2 continents.

“The impediment so far is lack of knowledge, we don’t know enough about the potentials that african countries can offer.” Suryo Sulisto said.

The Chamber of commerce also launch a website www.AsiaAfrica.com ,where any businesses big or small from asia and Africa can connect sell their goods online. Why? the importance of the relations is highlighted by the Indonesian president.

“I believe that the potential for investment for both regions are enormous especially in manufacturing, agriculture,infrastructure and energy,” said Joko Widodo, Indonesian President.

“Now its the time to strengthen in economy, trade and investment. It’s time for the business world to take on a bigger role and realize the Bandung spirit that we strengthen through this asia african conference.”

As the center global economy is shifting more and more towards Asia, a crucial part of maintaining the region’s growth is to expand to new markets, and Africa with its vast potential can be a perfect destination.