ISLAMABAD
\nPrime Minister, Youth Programme (PMYP) focal person on overseas, business and trade linkages Sheharyar Memon has invited the business leaders to participate in \u201c40th Trade Expo Indonesia (TEI) 2025\u201d for integrating the potential economies of Indonesia and Pakistan,.
\nPakistan and Indonesia are the two strategic partner have huge potential of bilateral economic and trade and both of the countries can proved to be the gate way for each other in ASEAN and Central Asian States, he said.
\nPrime Minister Youth Programme (PMYP) on overseas and business and trade linkages Sheharyar Memon said this while in meeting with Ms. Ingan Malem, Minister Counsellor for Economic Affairs, and economic team of Indonesian embassy in Islamabad.
\nDuring the meeting, Sheharyar Memon shared the objectives and outcomes envisioned from this initiative, particularly its role in preparing Pakistani entrepreneurs, professionals and youth leaders to actively participate in the 40th Trade Expo Indonesia (TEI) 2025 and the CEO Summit Jakarta, said a release issued on Sunday.
\nThe focal person for PMYP on overseas said Indonesia and Pakistan bilateral trade reached up to $4.7 billion in Fiscal Year 2024, and both countries are negotiating on the Free Trade Agreement (FTA) for finalization of agreement.
\nPakistan and Indonesia have strong and growing trade ties, with the bilateral trade volume increasing to around $4.7 billion in 2024 from $3.36 billion in 2024. Indonesia is one of Pakistan\u2019s top trading partners and the largest economy in Southeast Asia, he said.
\nMemon said that Pakistan exports processed foods, pharmaceuticals, IT services, halal meat, textiles, seafood, and sports goods to Indonesia. Conversely, Indonesia\u2019s exports to Pakistan include palm oil, consumer electronics, auto parts, coal, rubber, tea, spices, and nickel-related products, with palm oil being a major import by Pakistan, he said.
\nPMYP on trade said that both countries signed a Preferential Trade Agreement (PTA) in 2012, operational since 2013, which has helped facilitate market access and tariff concessions on numerous products.
\nDiscussions are underway to advance a Free Trade Agreement (FTA) aimed at further strengthening trade relations and expanding market access. There are also plans for cooperation in electric vehicle battery production, leveraging Indonesia\u2019s vast nickel reserves, he said.
\nHe said that future perspectives indicate enhanced cooperation not only in trade but also in sectors such as education, healthcare, IT, tourism, energy, and defense. Indonesia could act as a gateway for Pakistan to the ASEAN market, which has over 600 million people, potentially boosting Pakistan\u2019s economic activities in Southeast Asia.
\nBoth countries are seeking to deepen investment ties, with Pakistani investment in Indonesia witnessing exponential growth, particularly in services, construction, and trade-related sectors, he added.
\nHe said that overall, Pakistan-Indonesia trade ties are poised for significant expansion through increased trade, investment, joint ventures, and broader economic cooperation facilitated by agreements like the PTA and the forthcoming FTA.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Prime Minister, Youth Programme (PMYP) focal person on overseas, business and trade linkages Sheharyar Memon has invited the business leaders to participate in \u201c40th Trade Expo Indonesia (TEI) 2025\u201d for integrating the potential economies of Indonesia and Pakistan,. Pakistan and Indonesia are the two strategic partner have huge potential of bilateral economic and trade […]<\/p>\n","protected":false},"author":2,"featured_media":504265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-504233","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n