IslamabadPakistan and Indonesia have taken important steps to strengthen their trade relations, thanks to the efforts of the Private Investment Facilitation Council (SIFC).
At the recent trade fair in Indonesia, the two countries signed several trade agreements and memorandums of understanding between companies with a total value of $10.7 million. These agreements cover a variety of sectors, including coconut products, gum, copal, cocoa, copra, ginger, spices, consumer goods and auto parts.
These deals are the result of collaborative efforts between private companies, business institutions and government agencies from both countries.
As senior members of the Organization of Islamic Cooperation, Pakistan and Indonesia reaffirmed their commitment to enhancing cooperation on trade and economic matters with the support of the International Monetary Fund.
Tejuh Yuko, Acting Consul General of Indonesia, praised the participation of the Pakistani trade delegation, noting that it is a pivotal step towards strengthening economic relations, especially with the business community in Sindh. He noted that this is a positive step towards promoting deeper economic cooperation.
Abid Nisar, Chairman of the Pakistan-Indonesia Business Council, expressed optimism about the growing economic ties, stressing that their shared historical and cultural ties provide a solid foundation for mutual prosperity.
As a member of the G20, Indonesia is keen to leverage its economic experience to help Pakistan achieve greater stability. The initiatives promoted by the Islamic Finance Center are expected to strengthen the Pakistani economy and deepen bilateral relations between the two countries.