Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio, has said that Indonesia can play a significant role in providing economic and trade opportunities to Pakistan and connectivity with ASEAN’s potential market.
“There is the need for mutual trade expansion with Pakistan beyond traditional products and focus on other sectors, and simultaneously for Pakistan to expand its presence into the ASEAN market”, the Indonesian Ambassador said during a meeting at the Lahore Chamber of Commerce and Industry, which was chaired by LCCI President Mian Nauman Kabir.
Ambassador Tugio further stated that trade connectivity and regional economy are vital for the global economy through which the conclusion of the Free Trade Agreement (FTA) will bring benefit to improve the economy growth of their member countries.
“Including exploring the potential of Islamic Economy since one-quarter of the world’s population is Muslim, and therefore actions must be taken to capitalize on the benefits of D-8 cooperation between eight Muslim countries where Indonesia and Pakistan are proud members together with Bangladesh, Egypt, Iran, Malaysia, Nigeria, and Turkiye”
The envoy claimed that there are significant opportunities to strengthen bilateral trade between Indonesia and Pakistan. Along with the import of palm oil, he emphasized that we should also improve our mutual trade cooperation in the textile, pharmaceutical, herbal medicine, spices, and other important areas.
Speaking about Indonesia’s ban on the export of palm oil, Tugio stated that his nation temporarily imposed restrictions due to the price spike that made palm oil unavailable on the domestic market and made it extremely difficult for locals to purchase cocking oil.
He said, “The restriction was lifted, and palm oil export to the entire world has resumed, including the immediate supply of 10 containers of palm oil to Pakistan.”
In his remarks, Mian Nauman Kabir, President of the LCCI, urged the two Islamic nations to further develop their trade and commercial ties, particularly in the fields of pharmaceuticals and surgical equipment. He stressed the need for cooperative ventures between Pakistan and Indonesia to develop bilateral trade.
Kabir said the Pakistan-Indonesia bilateral trade and economic relations can be further strengthened by the exchange of business-to-business delegations, organizing of joint trade exhibitions, and taking equal benefits from each other’s experiences.—APP