KARACHI  - Consul General of Republic of Indonesia Rossalis Rusman Adenan has informed that the Jakarta Chamber of Commerce & Industry and the Karachi Chamber of Commerce & Industry (KCCI) will be signing a Memorandum of Understanding (MoU) on October 21, 2013 at the World Trade Center Building in Jakarta to further strengthen trade ties between the two brotherly nations.

Speaking at a meeting during his visit to KCCI, Indonesian Consul General pointed out that Pakistan and Indonesia enjoy strong bilateral relations as trade volume continues to show rising trend and stood at $1.6 billion last year against $1.1 billion witnessed earlier.  He said that serious efforts were being made to enhance volume of two-way trade between both countries. Indonesia is an attractive investment destination for many reasons, therefore, Pakistani businessmen should avail the opportunities and enhance their interaction with their Indonesian counterparts, he added.

Rossalis informed that his country’s economy has continued to witness strong growth rate of more than 6 percent during the past 6 years owing to various reforms implemented by the Indonesian government in all sectors of the economy. Elaborating the reasons behind exceptional economic growth, he added that this strong growth rate can be attributed to 60 million middle class population of Indonesia who were playing the role of an engine for the economy.

Earlier while welcoming the Consul General, President KCCI, President KCCI A. Abdullah Zaki said that the bilateral trade relations between Pakistan and Indonesia are expanding rapidly as both governments have put significant efforts in implementing PTA and are looking forward to turn this PTA into FTA in near future. During 2012-13, Pakistan exported $211.16 million worth goods to Indonesia whereas Pakistan’s import from Indonesia stood at $700.31 million, indicating a trade deficit of $489.15 million. To further improve trade ties, President KCCI suggested exchange of trade delegations, individual visits of businessmen, undertaking joint ventures, better travelling facilities and holding single country exhibitions in each other countries.

 Indonesia can also take advantage of Gwadar Port by establishing production base in Pakistan and tap the huge untapped markets of South Asia, Central Asian Republics and Middle East, he added.

Senior Vice President KCCI, Muffasar Atta Malik, Vice President KCCI, Muhammad Idrees, Former President KCCI, AQ Khalil and other Managing Committee members were also present at the meeting.