The Consul General of the Republic of Indonesia, in collaboration with 20 distinguished business delegates from Karachi, Pakistan, has embarked on a vital journey to the 38th “Trade Expo Indonesia” held in Jakarta Indonesia. The 38th Trade expo was inaugurated by the Coordinating Ministry of Economic Affairs of Indonesia, Airlangga Hartarto, marking a monumental stride in fostering Indonesia – Pakistan trade relations.
A significant moment of the expo was the meeting between the Indonesian Consul General H.E Dr. June Kuncoro Hadiningrat and Abid Nisar, Chairman Pakistan Indonesia Business Council (PIBC), with the Honorable Vice Minister of Trade of the Republic of Indonesia, H.E. Dr. Jerry Sambuaga.
In this meeting, the Consul General briefed the Vice Minister about the growing trade relations between the two countries in which Indonesian side experiences surpluses. Consul General Hadiningrat stated that as economic partners with a history of cooperation, the trade dynamics between Indonesia and Pakistan encompass a range of industries that reflect the diverse strengths of both nations.
The bilateral value of Indonesia-Pakistan trade in 2022 was $4.5 billion and $2.2 billion from Jan-June in the current year. This shows a significant increase in bilateral trade between two countries over the years.
“Pakistan is one of the biggest palm oil importers from Indonesia. It reflects almost 90 percent of shares in Pakistani market. Other than palm oil, Pakistan imports from Indonesia includes; coal, textile products, consumer goods and more. Whereas Indonesia is planning to import more than 240,000 MT. of rice from Pakistan.”
In the meeting with the Vice Minister, the Consul General also shares an info about the Pakistan Edible Oil Conference, going to held in 13-14 January 2024 in Karachi, Pakistan.
In his response, the Vice Minister, who showcased a keen interest in the upcoming edible oil conference in Karachi, highlighted Indonesia’s vision for sustainable palm oil. As the world moves towards sustainability, Indonesia’s palm oil stands out as a beacon for economic and eco-friendly palm oil industry globally. The Vice Minister also praises the efforts of all parties in both countries, without which bilateral trade cooperation does not reach the current state. He also believes that more potencies of both countries in trade remain to develop.
During the meeting, Abid Nisar, Chairman Pakistan Indonesia Business Council conveys his thought and congratulated the Vice Minister for the convening the Trade Expo Indonesia this year. In addition to high-profile meetings. Nisar added that the event served as a vital platform for Pakistani businessmen, to getting to know prospective suppliers in various products including palm oil, agricultural products, flavors, and more.
After the inauguration, the Pakistani businessmen visited the exhibition which spans in seven halls of showcasing various products. Some business deals have been reached in the first day of the event. In the later day, the Pakistani delegate visited embassy of Pakistani in Jakarta, and discussed the hurdles in promoting the Pakistan’s export to Indonesia. Indeed, this trip to the Trade Expo displays a synergy promising a dynamic shift in trade relations, benefiting both countries immensely.