Pakistan and Indonesia have signed a memorandum of understanding to establish an Indonesia Pakistan Joint Trade Committee to strengthen trade dialogue, address market access issues and expand bilateral economic cooperation, an official statement said.
The MoU was signed in Islamabad on Friday following talks between Commerce Minister Jam Kamal Khan and visiting Indonesian Vice Minister of Trade Dyah Roro Esty Widya Putri.
With bilateral trade exceeding $4 billion, both sides agreed to work towards expanding the existing preferential trade agreement, with the longer-term goal of progressing to a Comprehensive Economic Partnership Agreement to boost trade and investment flows.
During the talks, Mr Kamal described Indonesia as a strategically important member of the Association of Southeast Asian Nations and said it could serve as a regional hub for wider economic cooperation.
He said Pakistan could supply the Indonesian market with minerals, cosmetics, pharmaceuticals and agri-food products, and announced plans to organise a single-country exhibition and business forum in Jakarta. The event would also invite Asean member states to help promote Pakistani exports and strengthen regional business linkages.
The chief executive of the Trade Development Authority of Pakistan sought Indonesian support for the early announcement of fruit import quotas, rationalisation of certification requirements for Pakistani exports, notification of rice import quotas and improved market access for industrial-grade potatoes.
Mr Kamal noted that imported edible oil, mainly from Indonesia, was an essential component of Pakistan’s food supply and acknowledged the role of stakeholders from both countries in sustaining bilateral trade.
The Indonesian vice minister reaffirmed her country’s commitment to closer economic ties and welcomed cooperation through the newly established Joint Trade Committee.
The visit coincided with a reception hosted by the Indonesian Consulate General in Karachi in honour of the visiting vice minister, attended by government officials and business representatives from both countries, the statement said.
