Consul General of Indonesia, Rossalis Rusman Adenan has expressed hoped that Preferential Trade Agreement (PTA) between Pakistan and Indonesia will be signed in near future. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he informed that negotiation on the agreement would be resumed this year.
Adenan said that bilateral trade between the two countries had crossed 1.2 billion dollars in 2008 but reduced in last two years owing to delay in finalisation of PTA. The CG added that PTA will pave way to boost two-way trade and hopefully, volume of trade may cross two billion dollars in the coming years.
Expressing concern over the low volume of trade, he said it does not reflect the actual trade potential. He emphasised the need of frequent exchange between trade delegations and developing person to person contacts to boost trade. He advised Pakistan to act fast to take more advantages and privileges from Association of Southeast Asian Nations (ASEAN) and regional process that has been going on in the East Asia region. The Indonesian CG said Indonesia's chairmanship of ASEAN in 2011 might be the right time for accelerating realisation of Pakistan's bid to be a full-dialogue partner of the association.
Expressing his views, President KCCI, Saeed Shafiq said that signing of PTA will bridge gap between business communities of both Pakistan and Indonesia and give a strong boost to the bilateral trade ties. Indonesia would be able to increase its export of crude palm oil to Pakistan whereas Pakistan can export to Indonesia its value added textiles, carpets, fabrics, leather and leather goods, chemicals, surgical equipment, etc, he elaborated. He said that PTA would be the first step towards negotiating a broader Free Trade Agreement (FTA), adding that Pakistan is interested in joining ASEAN and seeks Indonesian support in this regard.
President KCCI invited the Indonesian CG for another steadfast participation in KCCI's flagship My-Karachi Exhibition (July 2011). He praised Indonesia's last year's active participation in the exhibition with its colourful cultural show. Senior Vice President KCCI, Talat Mahmood on the occasion emphasised that the bilateral relationship should be boosted and avenues chalked out for a more productive relationship. Vice President KCCI, Junaid Esmail Makda, called for a MoU so give trade activities a functional status at which the CG said that KCCI should ink an agreement with Jakarta Chamber of Commerce to reach the business community of Indonesia.
Chairman Diplomatic Affairs sub-committee KCCI, Asif Nisar talked about Pakistan and Indonesia agreement on abolition of diplomatic and official visas, paving way for enhanced exchanges and said the signing of PTA and relaxation of visa requirements would boost relationship and enhance linkages. Former President, Majyd Aziz, A. Q. Khalil and Anjum Nisar were also present in the meeting.