Islamabad, July 6, 2021 (TDI): Adam M. Tugio, Indonesian Ambassador to Pakistan invited the members and the President of the Islamabad Chamber, for Small Traders and Small Industries in his office
The purpose behind this meeting was to discuss ways in which trade relations, between the two countries, to enhanced especially in the Small and Medium-size Enterprize sectors.
They also decided to make collective efforts towards increasing cooperation Trade Diplomacy, and the potential for more exploration in the fields of trade, investment, and tourism was recognized.
Pakistan and Indonesia are having a Preferential Trade Agreement that was made in 2013. Through trade diplomacy, our bilateral trade has improved manifold. From US$ 466.5 million in 2004 to approximately US$ 2.6 billion in 2020, the trade has increased. The trade balance is in favor of Indonesia.
There is a huge scope between both states for the trade to expand. According to the Embassy of Pakistan to Indonesia, Major exports from Pakistan to Indonesia include cotton, kinnow, seafood, articles of apparel accessories and sports goods, tobacco, articles of leather, cotton fabrics, textile made-ups, and copper scrap. Pakistan’s major import from Indonesia is Palm oil, which was around $ 1.5 billion in 2020.
Other major products include coal, man-made staple fibers, paper and paper board, betel nuts, rubber, soap preparations, tea and spices, chemical products, organic chemicals, and motor vehicles etc.
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