Pakistan and Indonesia can play “important role” in economic and trade integration


Ambassador of the Republic of Indonesia to Pakistan Adam Mulawarman Tugio said on Saturday that Pakistan and Indonesia could play an important role in global economic and trade integration and also to strengthen economic connectivity between trading partners global.

The two countries are located in a very important geographical location and are linked by historical, religious and cultural ties that could go a long way in further improving connectivity in the global economy and trade, the Ambassador of ‘Indonesia in Pakistan, Adam Mulawarman Tugio. .

The ambassador said that Pakistan’s proximity to the countries of Central Asia and its location in western China are of paramount importance, which will make the port of Gwadar an important factor in economic integration and global trade.

The role of Central Asia, Southeast Asia and Asia Pacific in future world trade will be very important and the close and fraternal relations between Pakistan and Indonesia will be very beneficial in this regard. .

He said that Pakistan has an important geographical location, which can connect the countries of Central Asia with the world on the one hand and Western China on the other hand for which the port of Gwadar is of the utmost importance.

The ambassador said ASEAN countries have concluded FTAs ​​with China, Japan and Korea.

He said the ASEAN countries had annual trade of $ 600 billion with China, $ 200 billion with Japan, $ 150 billion with South Korea and $ 300 billion with the United States. United, representing an annual trade volume of $ 1.25 trillion.

He said the Asia-Pacific countries are also a major trading partner of ASEAN and the global trade bloc with $ 482 billion worth of annual trade opportunities.

The Ambassador said ASEAN countries and Pakistan could take advantage of FTA partners and the EU’s Generalized Scheme of Preferences (GSP-Plus) as a third party to strengthen bilateral economic cooperation.

In the future, the port of Gwadar would play an important role in the economic and trade integration of the world, adding that Pakistan could become a hub of world trade.

Indonesia was an important trading partner of Pakistan in the ASEAN countries and the two countries were linked by historical, religious and economic ties.

Responding to a question, he said that 45% of the Muslim population was from ASEAN countries and that Buddhists, who owned many religious sites in Pakistan, including Taxila and Swat, could also play an important role in the strengthening of cultural, economic and commercial ties between the two parties. .

He said religious tourism could be promoted in Pakistan and ASEAN countries, which could also enhance economic cooperation between the two sides.

Responding to a question, he said Indonesia was keenly interested in investing in Pakistan and had greater potential in the near future.

Ambassador Tugio said that Pakistan and ASEAN countries have a combined economic and trade market of 870 million people in which the trilateral trade between the two sides is only $ 7.5 billion, this which was not in line with the commercial potential.

He said Pakistan could take full advantage of ASEAN’s $ 3 trillion trade market, for which a comprehensive plan was needed for the future.

He said Indonesia had made investments in palm oil in Karachi, which would strengthen economic cooperation between the two countries, adding that in the near future, while showing interest in investing in Faisalabad, measures would be taken for this in the near future.

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