Pakistan’s Planning Minister Ahsan Iqbal instructed officials to devise a comprehensive strategy to enhance bilateral trade with Indonesia ahead of Indonesian President Prabowo Subianto’s official visit to Pakistan, scheduled from January 26 to 28, state-run media reported.
The minister instructed relevant ministries as he chaired the meeting of the committee formed by the Prime Minister to finalize all proposals and actions ahead of Indonesian President Prabowo Subianto’s first official visit Pakistan, to ensure productive and meaningful outcomes.
“This landmark visit will open new avenues for trade and cooperation, further strengthening bilateral relations between Pakistan and Indonesia,” Iqbal said, highlighting the importance of this visit.
He praised Indonesia’s successful integration of cultural diversity into a unified identity, stating, “We can learn from their model.”
Iqbal emphasized the need for collaboration with Indonesia in education, health, information technology, and tourism. He proposed offering scholarships in IT and healthcare to students from both countries to foster long-term cooperation.
Senior officials from the Ministries of Planning, Commerce, Finance, and Foreign Affairs, along with the Secretary of the Special Investment Facilitation Council (SIFC), participated in the meeting. Pakistan’s ambassador to Indonesia also joined via video link.
The participants discussed various proposals to strengthen cooperation and expand trade between the two countries across multiple sectors.
Pakistan and Indonesia trade relations
Over the years, Pakistan and Indonesia have worked to strengthen economic ties through trade and investment. A notable milestone was the signing of a Preferential Trade Agreement in 2012, which became operational in September 2013.
The agreement provides concessional market access to 232 Pakistani goods, such as fresh fruits, cotton, and fabrics, and 313 Indonesian goods, including edible palm oil products, sugar confectioneries, and cocoa products.
In October 2023, Pakistan and Indonesia signed trade agreements and memorandums of understanding worth $10.7 million during an Indonesian trade expo.
According to the Pakistan Business Council, the bilateral trade relationship has significant growth potential, particularly in sectors like agriculture, textiles, and energy.
President Subianto’s visit is expected to further strengthen these ties and explore untapped opportunities in the bilateral trade partnership.