ISLAMABAD: SAARC Chamber of Commerce and Industry Vice President Iftikhar Ali Malik Wednesday said forthcoming 2-day state visit of Indonesian President Joko Widodo to Pakistan will open new vistas of opportunities to further cement bilateral relationship especially in the economic sector and enhance the existing trade volume between both countries.
In a statement issued here on Wednesday, he said that the recent economic rise of Indonesia was also an example for Pakistan to follow, especially because the two countries shared many similarities in their demographics and trade could cross $ 5 billion annually comfortably from current $ 2.4 billion.
He said that Indonesia is a major trading partner for Pakistan, being one of the top importing and exporting destinations of Pakistan at 3rd and 31st places respectively.
Traditionally, the balance of trade has been in favour of Indonesia. Last year, the imports made from Indonesia to Pakistan were almost 16 times greater than our exports to Indonesia, he observed.
He said that the bilateral trade figures fairly indicate the economic relations between two countries but these can be even greater if Pakistan is given more access to the Indonesian market.
Malik further said youth from both countries should come forward and play a critical role in further developing the bilateral ties between the countries.
He also urged the leadership of both countries for working together to bring the Muslim countries close to each other especially in the field of trade and business.
He said that Pak private sector will welcome their counterpart for joint ventures and Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and state departments concerned will facilitate them for the promotion of bilateral trade and other economic activities.