‘Pakistan, Indonesia free trade deal in two years’

Envoy says preferential trade agreement has paved way for FTA.

LAHORE: The Ambassador of Indonesia to Pakistan Burhan Muhammad assured his host country that the Pakistan-Indonesia preferential trade agreement (PTA) had paved the way for a free trade agreement (FTA), and the FTA will be signed in two years.

“We will take further steps to broaden economic integration by initiating negotiations on the FTA,” the envoy said.

While speaking at the Lahore Chamber of Commerce and Industry (LCCI), the Indonesian ambassador went on to say that efforts were being made to enhance the volume of bilateral trade. Indonesia’s economy, which represents 40% of Association of Southeast Asian Nations (Asean) aggregate economy, was projected to grow at a much faster pace in the coming years.

He said that Indonesia was an attractive investment destination for many reasons, therefore Pakistani businessmen should avail the opportunity and improve interaction with their Indonesian counterparts.

Muhammad also said that he would also bring a business delegation to Pakistan.

The Jakarta Chamber of Commerce and Industry is going to ink a memorandum of understanding with the Karachi Chamber of Commerce and Industry on October 22, and will also sign a MoU with LCCI afterwards.

Published in The Express Tribune, October 11^th, 2013.

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