Islamabad: Pakistan Ambassador to Indonesia Mr. Sanaullah visited Islamabad Chamber of Commerce & Industry (ICCI) and informed the business community of Federal Capital about the available business opportunities in Indonesia.
The Ambassador said that under the PTA, Indonesia and Pakistan have agreed to offer market access to each other on nearly 500 tariff lines on preferential rate.
He said that Pakistan’s exports to Indonesia increased by 60 percent as new products like wheat, cereals, citrus, bicycles, ladies garments, fans, surgical products and finished leather were added to the exportable items from Pakistan to Indonesia.
At the same time, Ambassador Sanaullah acknowledged that the bilateral economic relations were still much below the prevailing potential. The economy of Indonesia, which has the largest Muslim population, is booming with the growth rate of 6.4 percent, he added.
He emphasized that Indonesia and Pakistan are brotherly countries that have been enjoying excellent and long-standing relations that have been transformed into a multi-facet and mutually rewarding partnership encompassing all field of interests.
The Ambassador emphasized that there was enough potential in various fields between the two countries to increase trade, adding that Pakistan was the 4th biggest consumer of palm oil after China and India.
In his welcome address, Mr.Mehmood Ahmed Waraich, Senior Vice President ICCI gave a detailed briefing to the Ambassador on available trade and investment opportunities in Pakistan and said that said Pakistan also values high its relations with Indonesia and desires to further strengthen the existing relations.
He said that the implementation of Pakistan-Indonesia PTA would begin new era of cooperation and serve as a foundation for enhanced economic and trade cooperation. However, he also emphasized that Free Trade Agreement negotiations in near future are necessary to draw beneficial results from PTA.
Mr. Waraich was of the view that Indonesia could find good markets in Afghanistan and Central Asia through Pakistan, adding that both governments should relax visa regime which is imperative to boost trade.