Pakistani business community should come forward to develop close cooperation with Indonesia

Islamabad, The Gulf Observer: The Islamabad Chamber of Commerce & Industry (ICCI) organized a Pakistan-Indonesia Joint Business Form to discuss potential areas of business cooperation between the two countries.

Adam M. Tugio, Ambassador of Indonesia was the chief guest at the occasion. The two sides identified many areas including real estate, construction, mines and minerals, textiles, information technology, e-commerce, infrastructure development, tourism, women entrepreneurship, youth development and spices that offered great potential for mutual cooperation.

Speaking at the occasion, Adam M. Tugio, Ambassador of Indonesia said that his country was a gateway for the US $2.9 trillion economy of ASEAN region and Pakistan should tap it for trade and exports by developing close cooperation with Indonesia.

He said that China was enjoying a bilateral trade of around US$600 billion with ASEAN, but Pakistan ASEAN bilateral trade was less than 1%, which should be increased to achieve better results.

He stressed for promoting cooperation among women entrepreneurs of Pakistan, Indonesia and ASEAN region that would give a boost to trade among these countries. He said that his embassy was planning to organize a dialogue on economy involving B2B and G2G meetings between the two countries besides holding an exhibition of the products of both countries to highlight their potential for bilateral trade.

Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry said that the Pak-Indonesia combined population was a huge market of around 500 million people, but their bilateral trade of around US$ 4 billion was not matching with their actual potential.

He stressed for diversification of trade to increase its volume. He stressed that both countries should finalize a free trade agreement to reduce trade barriers and boost the volume of two-way trade. He under scored the need of regular exchange of trade delegations to explore all untapped areas of mutual cooperation between the two countries.

Shehzad Cheema, Joint Secretary, Ministry of Housing & Works said that Pakistan was facing a shortage of 7.7 million housing units and Indonesian investors have great potential to invest in Pakistan’s housing sector.

Jamshaid Akhtar Sheikh Senior Vice President and Faheem Khan Vice President ICCI also spoke on the occasion.