Agreement may boost trade volumes three-fold, say businessmen. PHOTO: FILE
About 200 participants from Indonesia and Pakistan agreed that there is massive potential for bilateral trade between the two countries, which has already increased by 44% in 2012 as compared to the previous year, reaching $1.6 billion. It is expected that with the implementation of the PTA the figure will increase three-folds.
The session stated that the implementation of the PTA can play a significant role in resolving the issues of business communities on both sides, besides enhancing bilateral trade volumes, business opportunities and exchange of expertise between both countries.
The session was organised by the Indonesian Ministry of Trade in collaboration with the Indonesian Embassy in Islamabad, the Indonesian Consulate General in Karachi and the Pakistan-Indonesia Business Forum, and was attended by State Bank of Pakistan Governor Yaseen Anwer, Indonesian Ambassador to Pakistan M Burhan Muhammad and Indonesian Consul General Rossalis R Adenan, said a press release here on Tuesday.
Participants cited the non-implementation of the PTA as the main obstacle to trade between the two countries.
Earlier Yaseen Anwar urged his Indonesian counterparts to join forces to increase bilateral trade. “Let’s find ways to explore opportunities for enhancing bilateral economic ties. Indonesia is among top ten countries of the world in mining sector. Pakistan can use Indonesian expertise and similarly Indonesia can be a large market of Pakistani exports.” said Anwar.
He urged ASEAN countries to take solid measures to reduce the gaps so as to enhance bilateral trade relations.
The Indonesian Ambassador M Burhan Muhammad opened the dialogue and announced that strengthening commercial ties between two countries was a major priority.
He discussed friendly visa requirements to Pakistanis travelling to Indonesia and launching direct flights between Jakarta and Karachi.
He assured the Pakistani business community that he would try his level best to ease the visa policy further.
Published in The Express Tribune, July 10th, 2013.
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Evaluating last 25-years of Pakistani n Indonesian Business ethics n style (private or public sector) one can easily conclude that both sides have serious compatibility problem (except Indonesian palm oil import into Pakistan) n that is also via Singapore brokers. Indonesian private sector business community n government is more Indian centric, both understand their business ethics, style, culturally closeness n understanding, well settle n established Indian business community in Indonesia (textile, sports goods, film n entertaining industry etc) just name few along with their bi-lingual ability. If Indonesian side fails to fulfill a business commitment (which is common) Indian community knows how to get it enforced. Pakistani cultural interaction is limited n compatibility issue, no major private or public sector business setup in Indonesia, both mentally prefer to deal through third party (Singapore), Indonesian, Indian lobby influence within Indonesia against Pakistan, Pakistani lack of knowledge regarding Indonesian private n public business setups - above all not willing to learn. Talking for the sake of talk is free, probably some Pakistani businessman may not like or appreciate reading n understanding this But it's a fact. They prefer sit home, criticize, concentrate middle east, europe, usa etc make profit etc but lack exploration, take risk, learn other cultures ways n means.