Business

Indonesia interested in investing in oil and gas in K-P

Envoy says trade between two countries has increased following free trade agreement

Umer Farooq September 25, 2018

Pakistan, Indonesia had agreed to deepen trade ties. PHOTO: FILE

PESHAWAR: The embassy of Indonesia and Sarhad Chamber of Commerce and Industry (SCCI) have agreed to boost bilateral trade volume, capitalise on investment opportunities and remove the barricades hampering commerce between the two countries.

Indonesia Ambassador to Pakistan Iwan Suyudhie Amri and SCCI President Zahid Shinwari also agreed on exchange of business delegations and investment in oil, gas and hydroelectric power generation in Pakistan in general and Khyber-Pakhtunkhwa (K-P) in particular.

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During a meeting between Indonesian diplomats and SCCI members in the provincial capital, Amri said, “Indonesia will extend all-out support and it is my priority to promote trade between the two countries.” He said the volume of trade between Pakistan and Indonesia had increased following a free trade agreement (FTA) between the two countries. The Indonesian envoy told SCCI members that 20 more goods had been zero-rated following the FTA, adding the volume of trade would further increase under the FTA.

The ambassador praised the SCCI for its successful initiative for industrialisation and promoting trade and assured the chamber that Indonesia would extend all-out support for economic reforms, trade and different sectors.

Earlier, Shinwari apprised the Indonesian ambassador of investment opportunities in K-P and said Indonesian businessmen could take benefit of fresh opportunities, specifically the planned construction of 50,000 houses recently announced by Prime Minister Imran Khan.

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“What we have come to know is that Indonesian diplomats were really interested in oil and gas production besides tourism since Jakarta has huge reserves of natural resources and has a huge income from the tourism industry,” Shinwari told The Express Tribune.

Shinwari stated that Amri sought details of opportunities in different sectors, adding that all the details were provided and urged the government to facilitate the investors.

Published in The Express Tribune, September 25^th, 2018.

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COMMENTS (1)

israr khan | 6 years ago | Reply great to hear they are interested in investment, i say ask them to invest in shell oil and shell gas also the hydro projects specially in the north western KP, swat till chitral this is massive water flow and we want to see that cashed in, yes its v difficult area but that is then down to the kp govt to provide them with secure environment.

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