Indonesia: A $2 trillion market opportunity for Pakistan

Rawalpindi: Talking to the business community at the Rawalpindi Chamber of Commerce and Industry (RCCI) Iwan Suyudhie Amri, the Indonesian High Commissioner, shed light on the great economic potential of the Association of Southeast Asian Nations (ASEAN) member states including Indonesia.

Addressing the business community at the RCCI on Monday, he said that the relations between Indonesia and Pakistan have reached new frontiers and pointed out how the bilateral ties have brought improvement in many fields over the past couple of years. The envoy further added that Indonesia provided easy access for Pakistan to a $2 trillion ASEAN market.

“The bilateral trade volume has crossed the $3.1 billion mark and an increase in the scope of the preferential trade agreement (PTA) will further ramp up trade volumes”, he added.

The High Commissioner also lauded the efforts of RCCI and its role in strengthening bilateral relations through business opportunity conferences and exhibitions. He also assured the chamber of the embassy’s cooperation and assistance for the upcoming Rawal Expo 2020.

Amri also gave assurance that the embassy would share trade inquired and market-related information with the RCCI thus facilitating the members with information to avail the opportunities for promoting trade and exports to Indonesia.

The RCCI President Malik Shahid Saleem expressed similar views and expressed that there is a need to transform the cordial relations into bilateral trade, investment and joint ventures between the two countries.

With a population of 250 million, Indonesia is the largest Muslim country and a business market waiting to be explored. Malik Shahid Saleem stated, “Both countries should provide better market access to each other’s private sector, grant more tariff concessions and remove all non-tariff barriers. This will help in the promotion of bilateral trade up to its actual potential.”