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Indonesia sets $50 billion e-commerce trade target by 2025: envoy

Indonesia sets $50 billion e-commerce trade target by 2025: envoy

Indonesia sets $50 billion e-commerce trade target by 2025: envoy

Indonesia sets $50 billion e-commerce trade target by 2025: envoy

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ISLAMABAD: Indonesia has set a $50 billion e-commerce trade target by 2025 to connect with the biggest sector of global trade, a diplomat said.

There are vast opportunities in e-commerce trade between Pakistan and Indonesia, which will increase bilateral trade and investment opportunities on both sides, Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio told APP.

The ambassador said Pakistan and Indonesia are countries with large youth populations that can make their mark in the global e-commerce trade and create vast employment opportunities in both countries.

The global retail e-commerce sales in 2020 stood at $4.28 trillion, which is expected to reach $5.4 trillion by 2022.

There is an era of information technology (IT) and online connectivity in the world and now the big global brands are connected to small and big markets and are continuing their business activities, he said.

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The ambassador said Pakistan and Indonesia can be linked with e-commerce trade to increase bilateral trade, as well as connect both sides’ youth in connection of business and trade.

With such connections, the young people from both countries and the people can benefit from each other’s experiences and skills to promote economic and cultural integration.

The e-commerce integration in both countries could also help promote tourism and strengthen the ties between the people of the two countries.

Tugio said that Pakistan and Indonesia are among the most beautiful countries in the world and with the promotion of tourism in both countries mutual economic activities would reach its peak.

The two countries have similarities in many areas, including religion, culture, architecture, landscape, and cuisine, which must be familiar to the people of both countries.

To a question, he said, Indonesia has made investments in palm oil in Karachi, which would enhance economic cooperation between the two countries, adding that, soon steps would be taken to invest in Faisalabad.

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To another question about Indonesia’s rapid economic growth and reforms, he said, Indonesia was the first to work on Ease of Doing Business (EODB) and business facilitation, which encouraged foreign investors.

The ambassador said a number of achievements have been achieved; following the World Bank’s Ease of Doing Business (EODB) targets and then there was the devolution of power in Indonesia for strengthening the local body system, which led to a strong federation.

Pakistan and Indonesia have strong prospects for the proposed bilateral Free Trade Agreement (FTA), which would help strengthen the economic and trade ties between the two countries, he said.

The Preferential Trade Agreement (PTA) already existed between both countries, which opened up the possibility of increasing bilateral trade, he said.

The ambassador said Indonesia has recently reduced trade tariffs for facilitating Pakistan in 20 trade items in the bilateral PTA review.

Indonesia has a strong role to play, he said, adding that the progress was being made to enhance economic and trade integration between Pakistan and the Association of Southeast Asian Nations.

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Discussing the cultural and educational ties between the two countries, he said, 11 per cent of scholarships were awarded to the Pakistani students this year, which was 52 per cent of developing countries.

This year 60 Pakistani students went to Indonesian universities to study, he added.

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