President Paul Kagame is leading Rwanda’s delegation to Bali, Indonesia, where he joined other African leaders at the 2nd Indonesia-Africa Forum, which kicked off on September 1.

The forum is the second of its kind to be hosted in Indonesia, following the previous edition of 2018, and according to the Indonesian government, both platforms are rooted in the Bandung Spirit of the first-ever Asia-Africa Conference in 1955.

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For context, the historic Asian-African Conference, also known as the Bandung Conference, was held in Indonesia on April 18, 1955.

It marked the first time that the countries of the Global South united to oppose imperialism and colonialism in defence of their sovereign rights and a more equitable world.

At the summit, 69 years ago, leaders and representatives of 29 Asian and African countries, which had just won independence after decades of being deprived by Western colonists, proposed the Bandung Spirit with "solidarity, friendship and cooperation" at the core, initiating the Non-Aligned Movement and South-South cooperation.

At the heart of the agenda was pushing for a development agenda and global policies that reflect the needs and aspirations of developing countries while at the same time forging an inclusive platform to enable North-South collaboration.

"Indonesia an emerging power”

Themed "Bandung Spirit for Africa&039;s Agenda 2063," this year’s forum aims to enhance partnerships between Indonesia and African nations in critical areas of energy, food security, health, and minerals.

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In his opening address, Indonesian President Joko Widodo outlined four key points in tackling the challenges facing the international community.

He highlighted the centrality of achieving the Sustainable Development Goals (SDGs) in global development, Indonesia&039;s dedication to the Global South, the Indonesia-Africa partnership, and the "reinvigoration of global solidarity”.

Indonesia as an emerging Asian power is using this gathering as a platform for Indonesia and African countries to strengthen bilateral relations, formulate strategic steps, and make joint efforts in facing increasingly complex global challenges.

According to the Indonesian government, the summit is expected to give birth to new agreements and ideas through a spirit of togetherness, to shape a better future for future generations, reflecting the increased amount of attention and resources that the Southeast Asian country is dedicating to Africa.

In 2023, Indonesia’s President Joko Widodo made his first presidential trip to Africa, visiting Kenya, Tanzania, Mozambique, and South Africa to strengthen solidarity and cooperation among the Global South countries.

Since then, Indonesia has committed to formulating a five-year development plan for Africa, much as the details have not been shared in the public sphere.

However, Indonesia has been steadily increasing the amount of development aid given to African countries, with 60 such programs launched over the past decade focused on issues including food security, energy, and health, according to the country’s Ministry of Foreign Affairs.

In a related development, Indonesia launched, in 2019, its International Development Cooperation Agency and has since partnered with 23 African countries on development programmes.

Significant investment in Africa

Indonesia's significant investment in Africa and strong economic ties signal a promising future for the region, according to the country’s Investment Minister Rosan Roeslani.

"By developing infrastructure, increasing trade integration, and advancing bilateral investment agreements, we are laying the foundation for a bright and prosperous era," Roeslani said at the Indonesia-Africa Parliamentary Forum (IAPF) session in Bali on Sunday.

He also pointed out 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, Roeslani conceded to 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.

Available statistics indicate that Indonesia has invested $2.09 billion in several African countries, with some Indonesian companies operating in eight African countries. In return, African investment in Indonesia has reached US$1.73 billion.

Notable 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.

According to Roeslani, Indonesia is exporting processed goods to Africa while importing raw materials from the continent.

He also revealed that Indonesia is advancing bilateral investment agreements with African countries to ensure a stable investment climate.

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.

It is expected that the forum will not only discuss plans to build cooperation between Indonesia and Africa but also produce concrete plans.

For the private sector and state-owned enterprises, it is estimated that there will be agreements with a value of up to US$3.5 billion or around Rp58 trillion.

According to the World Bank, the Asian country is among the world’s best-performing economies, with recent prospects indicating that its gross domestic product growth is forecast to average 5.1 percent per year from 2024 to 2026.

This, the World Bank said last month, is despite headwinds from a subsiding commodity boom, increased volatility in food and energy prices, and rising geopolitical uncertainty.

"Indonesia’s successful economic performance is in big part thanks to the government’s robust macroeconomic policy framework, which helped attract investment,” said World Bank Director for Indonesia and Timor-Leste Carolyn Turk.

He added; "It is important to maintain prudent, credible, and transparent macro policy, whilst creating fiscal space that enables priority spending on social protection and investment in human capital and infrastructure.”