Published On: Sat, Aug 6th, 2016

Pakistan and Indonesia signed MoU to export 1m tons of rice to Indonesia

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Pakistan and Indonesia signed MoUAddressing the business community at Faisalabad Chamber of Commerce and Industry; Indonesian Ambassador, Iwan Suyudhie Amri said that Pakistan and Indonesia signed MoU in December to export 1m tons of rice to Indonesia by 2019 and are now trying to make a path to make that mutually accepted deal successful.

He said that volume of bilateral trade between the two countries stands at $2.18 billion which was far less than the existing potential; however, it was the highest among ASEAN [Association of Southeast Asian Nations] countries.

Referring to CPEC, he said that it would attract foreign investment and all regional countries will enjoy its benefits. Strong domestic market has provided them a solid base for quick economic growth.

FCCI’s Muhammad Nawaz underlined the importance of the current value of bilateral trade, which stands at $2.18 billion, and said it was largely in favour of Indonesia.

Alamdar Hussain said that both countries had inked Preferential Trade Agreement [PTA] in 2012 to enhance the volume and it played a major role in enhancing the volume that was only $700 million in 2010.

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- An enthusiast working in Dubai as an Assistant Operations Manager. Writing about Pakistan and the latest happenings, trends around the globe is my passion. A dreamer, learner and a major foodie.