Indonesia asked to setup JVs for palm oil production in Pakistan

ISLAMABAD: Islamabad Chamber of Commerce and Industry President Ahmed Hassan Mughal has urged the Indonesian investors to set up joint ventures in Pakistan for the production and processing of palm oil to help reduce the country’s import bill.

Exchanging views with Wisnu Suryo Hutomo, Indonesian Embassy’s Head of Economic and Commercial Department, the ICCI president mentioned that Pakistan’s palm oil import witnessed an increase of 23 per cent during the first half of 2017-18, stressing that Indonesia should cooperate with Pakistan in enhancing the local production of this commodity.

Speaking on the occasion, Wisnu Suryo Hutomo said that Indonesia was ready to cooperate with Pakistan in the cultivation of high-yielding palm plants in addition to establishing palm oil refineries to meet its domestic needs. He said apart from joint ventures in the production and processing of palm oil, manufacturing of high-value palm oil products would also be ensured in Pakistan.

He said that Pakistan was exporting rice while there was a huge demand of Pakistani Kinnow and mangoes in Indonesia. He said both countries should focus on regular exchange of trade delegations to further strengthen bilateral relations.

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