“Preferential Trade Agreement” promotes mutual benefit of textiles between India and Pakistan

Since Indonesia and Pakistan officially implemented the Preferential Trade Agreement on September 1, 2013, bilateral trade has grown significantly. Recently, Nus, Director-General of the Export Directorate of the Ministry of Trade of Indonesia, attended the economic and trade matchmaking meeting between the two countries on the implementation of the preferential trade agreement. He said that Pakistan is an important economic and trade partner of Indonesia. Due to the implementation of the preferential trade agreement, bilateral trade has grown rapidly. The first five countries this year have In March, the total bilateral trade reached US$840 million, a year-on-year increase of 28.3%, of which Indonesia exported US$760 million to Pakistan, a year-on-year increase of 38.9%.
Indonesia hopes to continue to strengthen economic and trade cooperation with Pakistan through preferential trade agreements. The Indonesian Ministry of Trade will also organize a number of economic and trade docking and negotiation activities to promote bilateral economic and trade exchanges.
The Ambassador of Pakistan to Indonesia said that the preferential trade agreement makes the trade channels of products from both sides smoother and makes the import and export links more convenient, which is conducive to the growth and healthy development of bilateral trade. This time, the Pakistani economic and trade delegation visited Indonesia, focusing on promoting palm oil, leather products, computers and other products. In bilateral trade, in the first quarter of this year, Pakistan imported palm oil from Indonesia, accounting for 61.8% of total imports, followed by coal (US$34.34 million), gauze (US$27.62 million), and man-made fibers (US$22.99 million).
In February 2012, the two countries signed a preferential trade agreement, exempting tariffs on imported citrus and other products from Pakistan and palm oil and other products from Indonesia. Indonesia hopes that this cooperation will further increase the number of palm oil, rubber, paper, shoes, Coal and timber are exported to Pakistan and re-exported to neighboring Central Asian countries and western China through Pakistan. Pakistan hopes that the agreement will further expand the export of citrus, textile raw materials and other products to Indonesia.