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Karachi, In an effort to bolster the languishing trade relations between Pakistan and Indonesia, Consul General Dr. John Kankoro emphasized the necessity for concrete steps to enhance bilateral trade during his visit to the Korangi Association of Trade and Industry (KATI).
According to Korangi Association of Trade and Industry, Dr. Kankoro highlighted the cultural similarities between the two nations yet pointed out the subpar trade figures. He suggested that Pakistan could leverage its relationship with Indonesia to gain better access to ASEAN countries and mentioned the potential for Pakistani students to attend top Indonesian business schools through scholarship opportunities. The Consul General also discussed upcoming trade events including a leather exhibition in Indonesia and the Indonesia Trade Expo set for October 2024, which could provide new business opportunities for members of KATI.
KATI President Johar Kandahari noted the longstanding friendly relations between the countries since 1955, but acknowledged that despite a bilateral trade volume of approximately $4.5 billion, the figures could be improved. He recalled the 2012 Indonesia Pakistan Professional Agreement, which facilitated access to each other’s markets for hundreds of products. Despite these measures, he remarked on the significant imports of palm oil from Indonesia and called for enhanced trade activities such as B2B meetings, trade delegations, and exhibitions in both countries to be conducted in local currencies.
Further issues discussed included the potential for tourism in Pakistan to attract foreign exchange and the high demand for Indonesian paper in Pakistan. The Standing Committee on Diplomatic Affairs’ Chairman, Rashid Ahmad Siddiqui, and Vice President Muslim Mohammadi of KATI emphasized the necessity of establishing a free trade agreement and promoting barter trade to circumvent foreign exchange challenges, while addressing specific setbacks like the sudden change in HS code by Indonesia, which adversely affected Pakistani shrimp exports.
The post Indonesia-Pakistan Trade Needs Boost, Says Consul General in Karachi appeared first on Pakistan Business News.