Islamabad: Indonesia and ASEAN countries are huge markets with great potential for Pakistani products and businessmen should focus on these countries to promote trade and exports, observed Muhammad Aqil Nadeem, Pakistan Ambassador-designate to Indonesia while addressing business community at Islamabad Chamber of Commerce and Industry.
He said Indonesia was the largest Muslim country and provided easy access to Pakistan to over $2 trillion ASEAN market. He said Pakistan could export many products to this huge market, especially textiles and pharmaceuticals and stressed that Pakistani businessmen should pay more attention to this important region for maximum exploitation of all untapped trade opportunities.
He said ICCI should form a trade delegation for Indonesia and Pakistan Embassy in Indonesia would extend maximum facilitation for making its visit productive and result-oriented. He also assured that his Embassy would share trade inquiries and business related information with ICCI so that its members could take advantage of the available opportunities for promoting trade and exports with Indonesia.
Speaking at the occasion, Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that Pakistan and Indonesia enjoyed cordial relations and there was a need to transform these good relations into thriving bilateral trade, investment and joint ventures between the two countries.
He said Pakistan and Indonesia have signed a Preferential Trade Agreement and volume of bilateral trade between the two countries has improved from $700 million in 2010 to $2.9 billion in 2015. However, there was plenty of scope to improve two way trade in many areas.
He said both countries should provide better market access to each other’s private sectors, grant more tariff concessions and remove all non-tariff barriers that will help in promoting bilateral trade up to actual potential. He said Indonesian investors should invest in Pakistan, especially in energy sector. He said Pakistan Embassy in Indonesia should share market study reports with major Chambers of Commerce of Pakistan so that our businessmen could step up efforts to fully exploit potential business opportunities. He assured that ICCI would consider taking a trade delegation to Indonesia to explore new avenues of mutual cooperation between the two countries.