Jakarta : In collaboration with 20 distinguished business delegates from Karachi, Pakistan, the Consul General of the Republic of Indonesia has embarked on a vital journey to the 38th Trade Expo Indonesia, held from 18th to 22nd October 2023, in Jakarta, Indonesia.
The 38th Trade Expo was inaugurated by the Coordinating Ministry of Economic Affairs of Indonesia, Airlangga Hartarto, marking a monumental stride in fostering Indonesia – Pakistan trade relations.
A significant moment of the expo was the meeting between the Indonesian Consul General, Dr. June Kuncoro Hadiningrat, and Mr. Abid Nisar – Chairman of the Pakistan Indonesia Business Council (PIBC), with the Honorable Vice Minister of Trade of the Republic of Indonesia, H.E. Dr. Jerry Sambuaga.
In this meeting, the Consul General briefed the Vice Minister about the growing trade relations between the two countries where the Indonesian side experiences surpluses. Consul General Hadiningrat stated that as economic partners with a history of cooperation, the trade dynamics between Indonesia and Pakistan encompass a range of industries that reflect the diverse strengths of both nations.
The bilateral value of Indonesia-Pakistan trade in 2022 was $4.5 billion and $2.2 billion from Jan-June in the current year. This shows a significant increase in bilateral trade between the two countries.
Pakistan is one of the biggest palm oil importers from Indonesia. It reflects almost 90 percent of shares in the Pakistani market. Other than palm oil, Pakistan imports from Indonesia include coal, textile products, consumer goods, and more. At the same time, Indonesia is planning to import more than 240,000 MT. of rice from Pakistan.
In the meeting with the Vice Minister, the Consul General also shared info about the Pakistan Edible Oil Conference, going to be held on 13-14 January 2024 in Karachi, Pakistan.
In response, the Vice Minister, who showcased a keen interest in the upcoming edible oil conference in Karachi, highlighted Indonesia’s vision for sustainable palm oil. As the world moves towards sustainability, Indonesia’s palm oil stands out as a global beacon for the economical and eco-friendly palm oil industry. The Vice Minister also praises the efforts of all parties in both countries, without which bilateral trade cooperation does not reach the current state. He also believes that more potentials of both countries in trade remain to develop.
Mr. Abid Nisar conveyed his thoughts during the meeting and congratulated the Vice Minister for convening the Trade Expo Indonesia this year. In addition to high-profile conferences, Mr. Nisar added that the event served as a vital platform for Pakistani business people to get to know prospective suppliers of various products, including palm oil, agricultural products, flavors, and more.
After the inauguration, the Pakistani business people visited the exhibition, which spans seven halls showcasing various products. Some business deals have been reached on the first day of the event. On a later day, the Pakistani delegate is planned to visit counterparts from the Indonesian Chambers of Commerce. It is expected to be welcomed by Pakistani Charge D’Affairs in the Pakistani Ambassador’s Residence in Jakarta. Indeed, this trip to the Trade Expo displays a synergy promising a dynamic shift in trade relations, benefiting both countries immensely.
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