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conomic relations between Indonesia and Africa should be nurtured through the establishment of an economic cooperation forum between the two regions, analysts say.

An analysis of research collaboration between the Foreign Ministry and Yogyakarta Muhammadiyah University (UMY) show Africa as a region with high economic potential due to its untapped resources.

However, Indonesia’s trade value with Africa is far below potential, sitting at only US$11.7 billion in 2014 compared to economic relations between Africa and India, which amounts to a whopping $70 billion.

Ali Maksum from the UMY research team said the role of the state was important in improving economic relations between Indonesia and Africa.

“It is important for the government to facilitate this cooperation because it should be underlined that without government involvement, the cooperation would be impossible,” he said.

“Private sectors also play a role in fostering the cooperation and they should work together with the government to find ways to improve economic relations between Indonesia and Africa.”

Another member of the team, Masyithoh Annisa Ramadhani, was also present during an informative lunch on the formation of an economic cooperation forum on Monday.

One of proposals of the collaboration was to hold a summit every five years organized “back-to-back” with the Asian-African Conference.

Head of the ministry’s Asia Pacific Africa Center for Regional Policy Study and Development, Arifi Salman, said the summit was something that was being envisioned by the ministry and UMY.

“It could happen two, three or five years from now. We are looking forward to hearing from the ministry,” he said.

Deputy chairman of African affairs at the Indonesian Chamber of Commerce and Industry (Kadin), Mintardjo Halim, highlighted issues that both regions could work on, such as the reduction of tariffs between both regions to smoothen trade ties.

“We businesspeople are convinced that high tariffs on both sides should be reduced. Sometimes we feel that the tariffs the African countries implement on other countries such as the United States or those from Europe are cheaper compared to what is implemented onto us,” he told the forum.

“We have to find ways to solve this problem if we are talking in the context of promoting South-South Cooperation.”

In addition to tariffs, he also raised the issue of supporting small-scale industries in Africa.

Mintardjo said that besides skills training provided by Indonesia to Africa, the private sector in Indonesia was also planning to provide necessary raw materials to facilitate the growth of small-scale industries in Africa.

Sudan’s ambassador to Indonesia Abdel Rahim Al Siddig Mohamed Omer said there should be a common platform between Indonesia and Africa to make economic cooperation successful.

“We need to inform our government of these initiatives we have prepared and we need to give them the details of these initiatives to show how vital it is for the cooperation to happen,” he said.

“For example, we might require meetings at the ambassadorial level to address this issue thoroughly.”

Foreign Minister Retno LP Marsudi has identified Africa as a major priority this year together with Latin America in terms of diplomacy and trade.