BMP for balance of trade between Pakistan & Indonesia

The Businessmen Panel (BMP) on Sunday urged the concerned authorities to help develop balance of trade between Pakistan and Indonesia during the forthcoming visit of Indonesian President Joko Widodo to the country, beginning on January 26. Chairman BMP, Mian Anjum Nisar in a statement said preferential trade agreement (PTA) between Pakistan and Indonesia has been in place since 2013, pushing bilateral trade from $1.39 billion in financial year 2012-13 to $2.44 billion in 2016-17.
This growth was said not to have much favorable impact on exports from Pakistan which went down from $196 million in 2012-13 to $138 million in 2016-17. The scenario demanded urgency to negotiate with our close friend Indonesia so that balance of trade between two countries may equally compliment exports from Pakistan, said the BMP President.
Secretary General (Federal) of the BMP, Ahmad Jawad complimenting Nisar mentioned that Indonesia imports over $550 million worth of vegetables annually and there is great potential for Pakistani mangoes to be exported to Indonesia.
BMP officials recommended establishment of Pakistan Indonesia Joint Chamber of Commerce and Industry so as to help boost trade ties especially since the two countries signed the Preferential Trade Agreement (PTA) on February 3, 2012. It was mentioned that 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 2016-17.
"Indonesia government has also extended the time period on the import of Kinnow which is a unique opportunity for the horticulture exporters of Pakistan," said Ahmad Jawad reminding that Kinnow was the only fruit exported from Pakistan to Indonesia. Ahmad Jawad said there existed a great scope of cooperation in the halal food product sector and exports could be boosted, emphasizing that export to Indonesia can be enhanced in the agriculture sector and there should be more and more exchange of trade delegations in this regard. Indonesia was said to have agreed to revise its trade pact with Pakistan, making 20 more items, including rice from Pakistan, duty-free and it is expected that this will be officially announced during Indonesian President's visit to Pakistan.