Govt urged to negotiate balance trade

F.P. Report

KARACHI: The Businessmen Panel (BMP) on Sunday urged the government to negotiate Indonesian President Joko Widodo on its official visit to Pakistan which will commence on 26th of this month so that balance of trade between two countries could also be compliment to Pakistani exporters.

BMP Chairman Mian Anjum Nisar said: “Pakistan and Indonesia are two friendly countries enjoying historical deep rooted, time tested and all weathered friendship. Both countries are knotted with Islamic brotherhood striving for global peace, promoting tolerance, fighting to eliminate terrorism, extremism, intolerance and endeavoring to resolve problems and differences by peaceful means and holding dialogues as its GDP per capita is more than $11,700 including its exports of around $144,4 billion annually which is a study for Pakistan to learn from our Muslim country how to excel economically.”

He said Indonesia imports over $550 million worth of vegetables annually. The recent economic rise of Indonesia was also example for Pakistan to follow, especially because the two countries signed the Preferential Trade Agreement (PTA) on February 3, 2012. There is a great potential for Pakistani mangoes to be exported to Indonesia besides Pakistan Indonesia Joint Chamber of Commerce and Industry would be helpful to boost trade ties.

Secretary General (Federal) of the BMP, Ahmad Jawad said preferential trade agreement (PTA) between Pakistan and Indonesia had been in place since 2013 and it had pushed bilateral trade from $1.39 billion in financial year 2012-13 to $2.44 billion in 2016-17. However, this growth has not had a favorable impact on exports from Pakistan as these have gone down from $196 million in 2012-13 to $138 million in 2016-17.

The export of Kinnow fruit from Pakistan to Indonesia has increased by 150 per cent to $48 million in the current fiscal year from $20 million during the fiscal year 206-17 and recently Indonesia government has extended the time period on the import of Kinnows which is a unique opportunity for the horticulture exporters.

Jawad said there was great scope of cooperation in the halal food product sector and exports could be boosted. He said export with Indonesia can be enhanced in the agriculture sector and there should be more and more exchange of trade delegations in this regard.

He also said Indonesia had agreed to revise its trade pact with Pakistan, making 20 more items, including rice from Pakistan, duty-free and it is expected that would be officially announced during Indonesian president visit.