Indonesia-Pak should join forces to increase bilateral trade volume: Governor State Bank of Pakistan

Karachi, July 09, 2013 (PPI-OT): Implementation of the Indonesia-Pakistan Preferential Trade Agreement (PTA) can play a significant role in resolving the issues of business community at both sides, besides enhancing bilateral trade volume, business opportunities and benefiting from expertise of both countries.

This was the consensus surfaced after a joint dialogue session among businessmen as well as government officials and diplomats from Indonesia and Pakistan. The session, following speeches of the Governor State Bank of Pakistan Mr. Yaseen Anwer, Indonesian Ambassador to Pakistan M Burhan Muhammad and Indonesian Consul General Rossalis R Adenan, was organized by the Ministry of Trade, Republic of Indonesia in collaboration with the Indonesian Embassy in Islamabad, the Indonesian Consulate General in Karachi and the Pakistan-Indonesia Business Forum at a local hotel.

The focus of discussion remained ways to enhance trade relations between the two brotherly countries, which are already tied in a fold of mutual cooperation, comradely and worldwide Islamic brotherhood. About 200 participants from Indonesia and Pakistan agreed that there is massive potential of bilateral cooperation in trade, tourism and industry sectors. It was cited that non implementation of PTA is the core obstacle behind lack of bilateral trade volume between the two countries.

On the occasion, several issues, as well as their possible solutions were discussed. Indonesian Ambassador’s commitment for his utmost efforts to ease the visa policy for Pakistanis remained a significant development. The announcement was overwhelmingly welcomed. In this connection panelists and participants of the discussion also elaborated the behavior of bureaucracy and the problems being faced by Indonesians in Pakistan.

The moot was told that the trade volume between Indonesia and Pakistan has increased 44% in 2012 compared to the previous year, reaching USD 1,6 billion. It is expected that with the implementation of the Indonesia-Pakistan PTA, the volume will be multiplied by threefold.

Earlier, the chief guest of the ceremony Mr. Yaseen Anwar emphasized that both the countries should join forces to increase bilateral trade volume. He said,” Let’s find ways to explore opportunities for enhancing bilateral economic ties. Indonesia is among top ten countries of the world in mining sector, Pakistan can use its expertise and Similarly Indonesia can be a large market of Pakistani exports.”

The governor SBP further added that intra-regional trade is the need of the hour, particularly in the ongoing economic situations. He urged ASEAN countries to take solid measures to reduce the gaps so as to enhance bilateral trade relations.

The Indonesian Ambassador to Pakistan, M. Burhan Muhammad, in his particular style opened the dialogue and announced major priorities to strengthen the commercial ties between two countries.

His discussed in detail about friendly visa requirements to Pakistanis travelling to Indonesia and launching direct flight between Jakarta and Karachi. He assured Pakistani business community that he would try his level best to ease the visa policy. He also shed lights on the impacts of non-implementation of PTA on Indonesian-Pakistan bilateral economic ties.

He emphasized that the kinnow oranges import regulations would be simplified and requested the business communities to encourage the relevant authorities to find the solutions in their part.

Mr. M. Zubair Motiwala, Chairman of Sindh Board of Investment, Mr. Ilhamy Elias, Chairman of the Indonesian Chamber of Commerce and Industry (Committee for Bangladesh, Pakistan and Nepal), Mr Waqar Ahmed Shah, Joint Secretary of the Pakistan Ministry of Commerce, Mr. Naveed Jan Baloch, Vice President of the Federation Pakistan Chamber of Commerce, Mr. Majid Haji Muhammad, Founder President of the Pakistan–Indonesia Business Forum, and Mr. Parluhutan Tado Sianturi, Senior Official of the Indonesian Ministry of Trade were among panelists.

The graceful ceremony was concluded on signing the Summary of Record by the representatives of trade, industry, governments of the two countries to make joint efforts to promote the implementation of Indonesia-Pakistan PTA, promote joint ventures, partnerships, and participation in exhibitions as well as resolving issues.

For more information, contact:
Consulate General of the Republic of Indonesia
Karachi, Pakistan
E/1-5 Shahrah-e-Iran, Clifton,
Karachi (Pakistan)
Tell: +92-21 35874623,
Fax: 35874483

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