Small and medium enterprises (SMEs) in Pakistan and Indonesia should strengthen bilateral trade relations between the two countries. Consul General of Indonesia Dr. June Kuncoro Hadiningrat Karachi stated recently.
During a visit to the Karachi Chamber of Commerce and Industry (KCCI) on Thursday, he assured local businessmen of further enhancing bilateral trade and economic relations by encouraging people-to-people contacts and facilitating the business community of Karachi.
The envoy said that an Indonesia-Pakistan portal had been created to facilitate bilateral trade. He invited the business community to register at the portal to find business opportunities in Indonesia.
In addition to the traditional items, many other business opportunities existed for enhancing exports through diversification of tradeable goods, he added.
Pakistani exports to Indonesia
Pakistan exports to Indonesia were US$137.2 Million during 2020, according to the United Nations COMTRADE database on international trade. Indonesia exported goods worth more than $2 billion.
Indonesian Exports To Pakistan
Currently, Indonesia mainly exports palm oil, manmade staple fibers, vehicles, rubbers, and paper-related goods to Pakistan. On the other hand, Pakistan mainly exported raw materials and edible items to Indonesia
Referring to statistics of the Indonesian Ministry of Trade, he pointed out that the trade volume between Indonesia and Pakistan had crossed $2.5 billion. And, there were a lot of other sectors that could be explored for further enhancing the existing trade volume.
Indonesia attached importance to Karachi and the chamber as an effective platform for further promotion of bilateral trade and investment ties, the consul general remarked.
Also speaking on the occasion, KCCI President Shariq Vohra said that Karachi was the hub of trade and economic activities that offered profitable investment opportunities and facilities for trade, investment, and joint ventures.
“Karachi, which contributes more than 70% of revenue to the national exchequer, is an attractive place for Indonesian businessmen, who can surely earn maximum profits by undertaking joint ventures.”
The KCCI president noted that bilateral trade between the two countries was in favor of Indonesia as, during 2020, Pakistan exported goods worth $194.94 million to Indonesia whereas imports from Indonesia stood at $2.4 billion.
Highlighting the potential for enhancing trade between the two countries, he said the two countries could enhance their bilateral trade by exchanging commodities like maize, wheat, wheat flour, non-manufactured tobacco, and readymade garments while the halal food industry also had great potential for enhancing bilateral trade.
“Indonesia along with ASEAN member countries is a huge market with great potential for Pakistani products. Businesses in Pakistan should focus on Southeast Asian countries to promote trade and exports,” he added.