The federal government in Abuja yesterday signed a Memorandum of Understanding (MoU) with the Indonesian Government on technical cooperation for the development of Micro, Small and Medium Scale Enterprises (SMEs) in Nigeria.

Alhaji Muhammad Umar, Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) signed on behalf of Nigeria.

His counterpart, Mrs Euis Sedah, Director-General, Small and Medium Scale Industries (SMI) Directorate of Indonesia, signed on behalf of her country.

Umar said, with the MoU, Indonesia would exchange technical know-how with Nigeria on cassava processing.

While describing the partnership as historic, the director-general believed that it would open a new vista in the bilateral relationship between the two countries.

"There is no doubt that Nigeria will need the assistance of Indonesia in the proposed conversion of industrial parks to cluster parks and in the revamping and development of existing Industrial Development Centres (IDC)," he said.

The director-general said the expectation of Nigerians was that Indonesia would invest in Nigeria's textile manufacturing sector so as to produce in Nigeria its fabric, popularly called 'battik,' which was in high demand.

"This will help in the actualisation of the Federal Government's goals in job creation.

"We also expect to step up our cooperation through sharing of experience, training, commercial activities and technology transfer among small and medium entrepreneurs of both countries."

He said the MoU between SMEDAN and the directorate of SMI of Indonesia offered tremendous business opportunities, especially for Nigerian entrepreneurs.

He, therefore, urged the Nigerian businessmen to leverage enhanced bilateral relations to revamp the nation's economy.

In his remarks, Mr Sudriman Haseng, Indonesian Ambassador to Nigeria, said the cooperation would strengthen relationship between the two countries.

"We are both regional leaders, the cooperation would increase the benefit of the two nations in their relationship with other countries," he said.

While noting that small and medium entrepreneur development is key to economic development of any country, the envoy called on the Federal Government to focus more on strengthening the SMEs' sector in the country.

NAN