AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, The Islamabad Chamber of Commerce and Industry (ICCI) is keen on leveraging the potential of boosting trade and exports with Indonesia. This was evident from the recent visit of an ICCI delegation to the Pakistan Embassy in Jakarta, Indonesia. The delegation, led by Vice President Engr. Azhar ul Islam Zafar, discussed prospects of bolstering bilateral trade relations with Faisal Fiaz, the Acting Ambassador of Pakistan to Indonesia.
According to a news release by Islamabad Chamber of Commerce and Industry (ICCI), Faisal Fiaz emphasized that Indonesia’s economy is consistently growing and presents an opportunity for Pakistan to foster a strong bond, enabling easier access to Indonesian and ASEAN markets. He mentioned that the bilateral trade between Pakistan and Indonesia stood at approximately US$ 4.2 billion in 2022.
The figure, he believes, can be escalated by nurturing business connections between the private sectors of both nations. The Acting Ambassador further highlighted the preferential trade agreement inked between the countries in 2013, urging the business community to fully utilize it to amplify trade and exports. The embassy praised the ICCI for being part of the 38th Trade Expo Indonesia Hybrid Edition 2023, noting that such engagements pave the way for enhanced bilateral trade relations. The embassy pledged its complete support in helping Pakistan’s business sector identify lucrative trade opportunities in Indonesia.
Vice President of ICCI, Engr. Azhar ul Islam Zafar, underscored that both Pakistan and Indonesia, being significant entities in the Muslim world, possess myriad avenues to expand collaboration in various domains. The essence of the ICCI’s visit to Indonesia was to unearth areas of bilateral cooperation that have yet to be tapped into. Zafar listed a range of products, from pharmaceuticals and medical equipment to leather items, that Pakistan could potentially export to Indonesia. Besides trade in products, there are multiple sectors, such as tourism, IT, textile, and e-commerce, where the two countries can establish collaborative ties. Zafar urged the embassy to aid in determining the demand for Pakistani commodities in Indonesia and share this data with Pakistani chambers of commerce, enabling them to capitalize on these prospects.
Various members of the ICCI delegation also put forth constructive suggestions, aiming to further solidify the economic and trade bond between Pakistan and Indonesia.
The post ICCI Delegation Explores Strengthening Trade Ties with Indonesia appeared first on Pakistan Business News.