ISLAMABAD: Indonesia has issued a formal notification for the correction of Indonesia-Pakistan preferential trade agreement (PTA) by offering immediate market access for 20 products of Pakistan’s prime interest, a press release issued on Friday said.

A formal notification for the inclusion of additional tariff lines in the Indonesia-Pakistan PTA has been issued after the Indonesian president’s approval and will be effective from March 1, 2019.

The priority products include mangoes, broken rice, ethanol, tobacco, yarn and fabric, home textile, terry towel, apparel and knitwear.

Adviser to the Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood thanked the Indonesian government for understanding the negative impact of the PTA on Pakistan’s trade and addressing it. The adviser further said that Pakistan will review other free and preferential trade agreements to make them more beneficial for the country.

A memorandum of understanding to amend the PTA between the two countries was signed during the visit of President of Indonesia Joko Widodo in January, 2018.

Following this, a meeting was held between the Indonesian trade minister and Secretary Commerce Younas Dagha on the sidelines of the Shanghai Expo 2018. Secretary commerce had underlined the need for such correction and requested for early resolution of the issue. He also took up the issue of non-tariff barriers imposed on Pakistani agriculture products by Indonesia. Long and sustained efforts of the Ministry of Commerce bore fruition and Indonesia was finally offered unilateral market access for Pakistani products.

Published in Dawn, February 23rd, 2019