Pakistan, Indonesia agree over better economic relations, trade ties

Punjab Board of Investment and Trade and Indonesian Embassy in Pakistan have on Monday agreed to establish a Joint Working Group to enhance the economic and trade ties between Pakistan and Indonesia.

Ambassador of Indonesia, H.E. Adam Mulawarwan Tugio along with a trade delegation visited Punjab Board of Investment and Trade. A broad-based discussion was held with the senior officials of PBIT over enhancement of bilateral trade and investment opportunities in Punjab.

CEO PBIT Dr. Erfa Iqbal briefed the delegation on various sectors and availability of numerous potential opportunities for investors in Punjab. She further pointed out that Special Economic Zones (SEZs) are being set up in all the provinces and regions of Pakistan. The immense potential for collaboration majorly existed in the areas of food and agri business, tourism, food processing, automobile, textile, I.T. and construction sectors.

The Ambassador thanked PBIT team for welcoming them and highlighting the prospective opportunities present in Punjab. The delegation showed keen interest in halal food, tourism, value addition of food items and automobiles.

They focused on creating linkages between the investors from both sides for further collaboration, considering it as a concrete step towards building a trade relation between Pakistan and Indonesia to promote economic cooperation that are looking to explore the international markets.

Both sides agreed upon establishing a joint working group to promote valuable communication, collaboration and coordination for the expansion of the bilateral trade and commerce. Participants also agreed to organize Web Conferences so that potential business communities can interact and collaborate to bolster trade between respective regions.

Observing the interest in agriculture as well as agro based products, halal food, tourism and automobile industry Dr. Erfa Iqbal informed the Ambassador that Punjab is open for collaboration in exploring joint ventures in the prospective sectors.

Participants agreed to have joint investment conferences, trade fairs and exhibitions leading to B2B meetings so that business community can fully benefit from each other ensuring economic growth, job creation, prosperity and peace on a worldwide scale.

There was an understanding between the two bodies for working together towards a common goal of promoting investments between Pakistan & Indonesia. CEO PBIT assured the delegation of complete facilitation and cooperation.