ISLAMABAD: Indonesia will import more than one million metric tons of Pakistani white rice worth $400m from next year to 2019.
In this regard, both the countries have signed a memorandum of understanding (MoU), which was signed by Indonesian Trade Minister Thomas Trikasih Lembong and Ambassador of Pakistan to Indonesia Mohammad Aqil Nadeem, said a Pakistan Embassy’s message.
The G2G agreement will be implemented by BULOG (State Logistics Agency) from Indonesia and Trading Corporation of Pakistan (TCP) from the Pakistani side. The import of rice will help Indonesian government’s efforts to replenish the rice stocks in view of current rice shortage due to severe drought.
Indonesia has MoUs with Thailand, Vietnam, Cambodia and Myanmar for rice imports already but Pakistan is the first country out of the Association of Southeast Asian Nations (Asean) to have such agreement with Indonesian government.
Both the countries for the first time crossed $2.2 billion mark since the bilateral trade in the year 2014. Pakistan and Indonesia have also concluded Preferential Trade Agreement in 2013 under which Indonesian exports to Pakistan increased manifold especially in crude palm oil.
