Pak-Indonesia FTA cannot be ruled out: Indonesian Minister.

ISLAMABAD -- Indonesian Deputy Minister for trade and export development, Bapak Didi Sumedi has said that the Free Trade Agreement (FTA) between Pakistan and Indonesia cannot be ruled out, which will increase the volume of bilateral trade on both sides.

After signing the Proposed FTA between the two countries, there is a possibility that the current bilateral trade volume will go from the current $4 billion to $10 billion per year, Indonesian Deputy Minister for trade and export development, Bapak Didi Sumedi told reporter in Jakarta (Indonesia).

The Minister said that the two countries already have a Preferential Trade Agreement (PTA) which will further strengthen bilateral trade after the finalization of the proposed FTA.

After the finalization of the FTA between Pakistan and Indonesia, it will help both the countries to strengthen bilateral economic and trade relations with the Association of South East Asian Nations (ASEAN) countries.

Replying to a question on Indonesia Convention Exhibition (ICE) 2022, he said that the Indonesia Convention Exhibition (ICE) is extremely important for increasing economic and commercial activities and promoting investment in Indonesia and the outer world.

He said the 37th Indonesia Convention Exhibition provides opportunities for businessmen and investors from foreign countries including local Indonesian businessmen to trade and invest in the Indonesian market.

The Minister said this exhibition is successfully held every year in Jakarta, Indonesia, and this year also around thousand of local exporters and traders and around 100 traders and industrialists from different countries of the world set up stalls in the exhibition.

Bapak Didi Sumedi said that as an annual promotional agenda, Trade Expo Indonesia 2022 will feature exhibitions, business forum, business counseling, and business matching with a focus on selected industries such as manufacturing, fashion and accessories, healthcare and beauty, medical equipment, furniture and home decorations, digital, and services, as well as food and beverage.

He said that there is a lot of potential for the improvement of economic and trade relations between Pakistan and Indonesia.

He said that bilateral trade between Pakistan and Indonesia is not in line with the potential which needs to be further increased.

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