Pakistan Can Enhance Its Exports To ASEAN Countries Through Indonesia: Adam Tugio

Pakistan can enhance its exports to ASEAN countries through Indonesia in addition to exploiting tourism, hotel and other untapped economic potential of the region to balance its bilateral trade with Indonesia, said Mr. Adam M. Tugio, Ambassador of the Republic of Indonesia

FAISALABAD, (UrduPoint / Pakistan Point News - 6th Sep, 2023 ) :Pakistan can enhance its exports to ASEAN countries through Indonesia in addition to exploiting tourism, hotel and other untapped economic potential of the region to balance its bilateral trade with Indonesia, said Mr. Adam M. Tugio, Ambassador of the Republic of Indonesia.

Addressing the business community in Faisalabad Chamber of Commerce & Industry (FCCI), he said that bilateral trade enhanced manifolds after the signing of PTA between the two countries.

He said that Pakistani export is at minimum tune as compared to Indonesian exports. "Pakistan must take serious measures to balance it through proactive and practical steps", he said and added that Indonesia had prepared a list of 300 export items and then efforts were expedited to increase the exports.

He said that Pakistan should also follow this strategy by identifying exportable surplus and then making serious efforts to enhance its exports to the traditional as well as non-traditional markets.

He said that Pakistan was one of the most important palm oil importing countries but it had multiple challenges to balance its trade deficit.

The Ambassador said that the annual Indonesian Expo was scheduled to be held in Jakarta from October 18 to 22 and Pakistani exporters must participate in it to understand the import potential of Indonesia.

He assured that the Indonesian embassy would facilitate the business community to participate in this event without any hassle.

He quoted Pakistanis visiting scenic and virgin island of Bali and said that it was attracting maximum tourists from the Asian region and Pakistani could earn hefty profit by establishing hotels and offering traditional spicy food.

He said that a Hilal conference would also be arranged immediately after the annual expo. The Hilal industry was not restricted only to the food but its use was also increasing in other sectors including cosmetics and pharmaceutical industries.

He said that Hilal products were becoming popular not only in Muslim countries but also in non-Muslim countries and 'we must capitalize this opportunity to gain maximum benefit'.

He said that Pakistan was importing used clothes to prepare new clothes and this sector had also opened new avenues for exports.

He underlined the need for diversification of Pakistani exports and said that dependence on only textile sector was not feasible. Pakistani investors could set up units in which raw material was available in abundance in Indonesia.

These products could also be exported to the ASEAN countries at zero tariffs, he added.

He further said that Indonesia had inked FTA with China and Japan and these countries could also become potential export markets for Pakistani products.

He said that Pakistan was importing Indonesian made auto parts and tyres etc. through China, Dubai and UAE. Pakistan should directly import these items to enhance its profitability, he added.

Earlier Senior Vice President Dr. Sajjad Arshad in his welcome address said that Faisalabad was geo-strategically located in the heart of Pakistan and it was linked with other parts of the country through road, rail and air.

He said that textile was the major export of Pakistan and Faisalabad was contributing 60% share in it. "Similarly, this sector was also providing jobs to 40% of the workforce", he said and added that FIEDMC had established state-of-the-art industrial areas and the investors from China and Turkey were already establishing their units in it.

He said that Pakistan was the major importer of palm oil from Indonesia but our textile exports were minimal to that country. "We should exchange trade delegations to maintain the much-needed trade balance between the two countries", he added.

A question-answer session was also held which was participated by Muhammad Azhar Chaudhry and Sheikh Muhammad Fazil.

Later, Senior Vice President Dr. Sajjad Arshad presented FCCI memento to Indonesian Ambassador while Mr. Adam M. Tugio also reciprocated and gave an insignia of Indonesian embassy to Dr. Sajjad Arshad.

The Indonesian ambassador also recorded his impression in the visitor's book of the FCCI.