SPEAKING at a business to business hybrid meeting in Karachi, Indonesian Consul General Dr June Kuncoro Hadiningrat stated that value of bilateral trade between Pakistan and Indonesia soared to a record level of $ 3.9b last year despite the outbreak of Covid-19 pandemic.Prior to this, the two nations posted largest trade value of $3.1b in 2018.
Increase in bilateral trade between the two countries is a good sign yet it is still in favour of Indonesia which indicates that we have failed to tap the Indonesian market properly.
The fact of matter is that Indonesia is an attractive market for our fresh fruits, halal meat and readymade garments.
Trade fairs and proper marketing of local textile goods, especially high value-added products, would allow Pakistan to penetrate Indonesian market.
Similarly, the potential of horticulture sector can be realised by increasing awareness, research and development, proper branding, rigorous marketing and promotional activities.
In order to promote economic relations and bring balance in trade, our authorities concerned need to increase the level of engagement with Indonesia side.
Indonesia is world’s top producer and exporter of palm oil.
We can enter into joint ventures with Indonesia to enhance local production of palm oil which will go a long way in substantially cutting our import bill.
With the help of Indonesia, we can develop new varieties of palm seeds that could suit local environment and provide economically better yields.
Then in this modern era, both the countries can be linked with e-commerce to increase bilateral trade as well as to connect both sides’ youth in business activities.
This e-commerce integration will also help promote tourism in both the countries and bring the peoples further close to each other.