Trade Expo Indonesia leads to flourishing economic alliances with Pakistan
Published on: October 21, 2023.
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Indonesian Consul General and Pakistani Business Delegates Promote Trade Relations at Trade Expo Indonesia
The Consul General of the Republic of Indonesia, along with a delegation of 20 prominent business representatives from Karachi, Pakistan, recently attended the 38th “Trade Expo Indonesia” in Jakarta. This event, inaugurated by the Coordinating Ministry of Economic Affairs of Indonesia, Airlangga Hartarto, marks a significant milestone in fostering trade relations between Indonesia and Pakistan.
Promoting Economic Partnerships
A highlight of the event was the meeting between Indonesian Consul General, H.E. Dr. June Kuncoro Hadiningrat, and Abid Nisar, Chairman of the Pakistan Indonesia Business Council (PIBC), with H.E. Dr. Jerry Sambuaga, the Honorable Vice Minister of Trade of Indonesia. During this meeting, the Consul General emphasized the growing trade relations between the two countries, with Indonesia experiencing trade surpluses. He highlighted that Indonesia and Pakistan have a history of cooperation and trade dynamics that encompass various industries, reflecting the diverse strengths of both nations.
In 2022, the bilateral trade between Indonesia and Pakistan amounted to $4.5 billion, with $2.2 billion recorded from January to June of the current year. This significant increase in bilateral trade demonstrates the strengthening economic ties between the two countries.
Consul General Hadiningrat stated, “Pakistan is one of the largest importers of palm oil from Indonesia, constituting almost 90 percent of the Pakistani market share. In addition to palm oil, Pakistan also imports coal, textile products, consumer goods, and more from Indonesia. On the other hand, Indonesia plans to import over 240,000 MT of rice from Pakistan.”
Exploring Opportunities
The Consul General also shared information about the upcoming Pakistan Edible Oil Conference, scheduled to take place in Karachi on January 13-14, 2024. The Vice Minister expressed keen interest in the conference, highlighting Indonesia’s vision for sustainable palm oil. As the world moves towards sustainability, Indonesia’s palm oil industry stands out as a beacon of economic and eco-friendly palm oil production globally.
The Vice Minister commended the efforts of all parties involved in promoting bilateral trade cooperation between Indonesia and Pakistan and expressed his belief that there are still untapped potentials for further development in trade relations.
During the meeting, Abid Nisar, Chairman of the Pakistan Indonesia Business Council, congratulated the Vice Minister for organizing the Trade Expo Indonesia and emphasized its significance as a platform for Pakistani businessmen to connect with prospective suppliers in various sectors, including palm oil, agricultural products, and flavors.
Exploring Business Opportunities
Following the inauguration, the Pakistani businessmen explored the exhibition, which spanned across seven halls showcasing a wide range of products. Several business deals were reached on the first day of the event. Later, the Pakistani delegates visited the Pakistani embassy in Jakarta to discuss the challenges faced in promoting Pakistan’s exports to Indonesia.
This visit to the Trade Expo Indonesia reflects a promising synergy that has the potential to drive a dynamic shift in trade relations, benefiting both countries immensely.
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