PSMA, Indonesian Envoy Discuss Bilateral Trade Improvement Opportunities

The members of Pakistan Soap Manufacturers Association (PSMA) and Indonesian Ambassador Dr June Kuncoro Hadiningrat discussed opportunities to enhance bilateral trade improvement opportunities between the friendly country

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Sep, 2022 ) :The members of Pakistan Soap Manufacturers Association (PSMA) and Indonesian Ambassador Dr June Kuncoro Hadiningrat discussed opportunities to enhance bilateral trade improvement opportunities between the friendly country.

The PSMA hosted the Indonesian envoy as chief guest at its annual dinner and held discussions on multifaceted issues including bilateral trade and collaboration.

Speaking on the occasion, Consul General Republic of Indonesia Dr June Kuncoro Hadiningrat highlighted in the Flood relief efforts made by the Indonesian Government in Pakistan.

He shared the latest statistics of palm oil and its fraction import by Pakistan. He also invited the members to the Single Country Pakistan Expo to be held in Jakarta.

He hoped relations between Indonesia and Pakistan would grow positively, as both the governments were agreed to elevate the level of economic cooperation and Indonesia Pakistan Preferential Trade Agreement (IP PTA) signed in 2012, into Free Trade Agreement (FTA) or Indonesia Pakistan Trade in Goods Agreement (IP TIGA) with the target of the completion this year.

Chairman, PSMA Shahzad Paracha thanked the chief guest and guest of honour Chairman PEORA, Rasheed Jan Muhammad and PSMA members across the country for their presence at Annual Dinner of the Association.

Presenting brief introduction of PSMA, Paracha said the Association was an old one working since 1968.

"This is 55th Annual Dinner of this Association. There are more than 150 member companies including multinational companies which contribute to around Rs70 billion in taxes and employ some 700,000 people from the country's workforce." Shahzad Paracha then brought the details as to how the association has lobbied with the customs officials in bringing the Customs valuation of Palm Oil and its bye product in line with the International Market prices by linking the products with their respective International Journals.

PSMA Chairman Shahzad Paracha thanked the chief guest with a hope that he would provide his best assistance to the member of PSMA.

Former Chairman and current Convener PSMA Customs Committee & CEO Gamalux Oleochemicals Limited, Usman Ahmed presented detailed overview of economic environment in Pakistan and highlighted the PSMA contribution in flood relief efforts.

He also offered Fatiha for Pakistani brothers and sisters who lost their lives and livelihood during recent floods in Pakistan which posed a serious humanitarian crisis.

The Guest of Honor Chief Executive Pakistan Edible Oil Conference (PEOC) Rasheed Jan Mohammed commend the Association's services for the country and economic development and its proactive approach in resolution of industry problems.