ISLAMABAD: Indonesian Trade Minister Enggartiasto Lukita, said that his country had reduced tariff line to zero on 22 items imported from Pakistan. He also hoped same measures from Pakistan in this regard to boost the bilateral trade volume.
Bilateral trade between Pakistan and Indonesia is worth around $1 billion. Pakistani exports to Indonesia include kinnow, seafood, textiles, cotton yarn, medical equipment, rice, wheat and carpets while Indonesia exports palm oil to Pakistan. In 2017, the trade volume between Pakistan and Indonesia reached $ 2.5 billion dollars.
While addressing the Pakistan-Indonesia Business Forum here, Enggartiasto Lukita, said that his country was ready to provide competitive environment to Pakistani investors therefore Pakistani investors should take full advantage out of conducive business environment in Indonesia.
He said that his country had full realization about lesser than existing potential of bilateral trade volume between Pakistan and Indonesia. Therefore, in consultations with Pakistan, all out efforts will be made to remove the lacunas from the preferential trade agreement between both the countries.
Pakistan’s PTA offer list to Indonesia includes a total of 287 tariff lines at preferential tariffs, and it also agreed to give the same treatment to Indonesian palm oil products as provided to Malaysia under the Pakistan-Malaysia free trade agreement (FTA).
While Indonesia cancelled tariffs on imports from Pakistan of the regionally-important citrus fruit, kinnow (a type of mandarin), creating a level-playing field in the Indonesian market for this product, which is produced in Pakistan.
He further added that Pakistani Kinnow was very much liked by Indonesian people therefore Pakistani Kinnow exporters could earn a very good profit by enhancing exports to Indonesia because Indonesia had increased quota of import of kinnow from Pakistan.
He said that he had been on official visit to Pakistan just to improve the trade and business ties with Pakistan. In this regard, both the countries would establish a strong industry of Palm Oil with headquarters in Pakistan. Both the countries would benefit from the exports of Palm Oil and by products from Pakistan.
