KARACHI, April 8: Karachi Chamber of Commerce and Industry (KCCI) President Mohammad Haroon Agar has asked the Ambassador of Indonesia to Pakistan, Burhan Mohammad, to help expedite enforcement/ implementation of Preferential Trade Agreement (PTA) between Pakistan and Indonesia.
Exchanging views during the visit of Indonesian Ambassador to KCCI, he said that the signing of PTA on the occasion of 62nd anniversary of Pakistan-Indonesia Friendship in February 2012 was a crucial initiative to open a new chapter of economic and commercial cooperation.
Agar pointed out that the KCCI believes that the PTA would bring the business communities of the two countries closer and would give a boost to bilateral trade.
He hoped that after enforcement/ implementation of PTA, negotiations would start for a Free Trade Agreement (FTA).
Agar called for Indonesia-Pakistan joint ventures in crude palm oil and agricultural value-added products.
Burhan Mohammad stated that being Indonesian Ambassador to Pakistan his priorities were to enhance economic cooperation between Indonesia and Pakistan.
He highlighted that the Indonesia-Pakistan Preferential Trade Agreement (PTA) was a landmark development in the bilateral history of the two countries which would not only raise bilateral trade volume but also open doors for Pakistani businessmen to penetrate in the emerging Asean market.
With enforcement of PTA, the trade volume between the two countries would touch the figure of $2bn in one year.He apprised that there was some delay in the enforcement and a notification is yet to be issued. In this connection, he said that he would meet Pakistan’s Secretary of Commerce shortly and also visit Jakarta to meet the Indonesian Trade Minister.—APP