Speakers at a seminar here on Thursday said that there exists vast potential to expand trade ties between Pakistan and Indonesia by removing all obstacles hampering the growth of business.
The seminar was jointly organised by the Embassy of Indonesia in Islamabad and the Lahore Chamber of Commerce & Industry (LCCI).
Punjab Minister for Industries, Trade & Investment Ajmal Cheema was the Chief Guest at the first session.
Those who also spoke on the occasion included Indonesian Ambassador Anwar Santoso, LCCI chief Mian Anjum Nisar, Executive Director General Board of Investment (BoI) Talat Mian, Former FPCCI President, Tariq Sayeed, Director General EPB, Haroon Rasheed, Honorary Consul of Republic of Indonesia Jamil A. Naz, Rachmat Badaruddin of Indonesian Chamber of Commerce and others.
In his address, Punjab Minister Ajmal Cheema urged entrepreneurs to hold single country exhibition in Jakarta for boosting Pak-Indonesia trade, which at present does not truly reflect the warmth of ties between the two nations.
"Indonesian exporters can introduce their products in Pakistan by holding a similar exhibition here," he added.
Cheema averred that efforts should be made to increase Pakistan's exports to Jakarta, which stood at a meagre level of $73.4 million during 2002-03 against Indonesian exports to Pakistan of $257.4 million.
A number of investor friendly policies have been introduced in Pakistan and Indonesian entrepreneurs should also benefit from these opportunities, he said.
The Minister urged the Indonesian businessmen to invest in Sundar Industrial Estate being developed near Lahore.
Indonesian Ambassador, Anwar Santoso said that his country would continue to provide an attractive business environment to foreign companies to invest in all the sectors.
"We have liberal trade policy now with attractive features to attract the foreign investors. It is within this context that President Megawati declared 2003 as the national investment year and issued the Presidential Decree on one roof service system in order to simplify the investment procedure and give better treatment to investors," he added.
Santoso said that realising the importance of Pakistan as a big emerging market in the South Asian region, the Indonesian corporate sector is desirous of further expanding the trade relations in all the fields with Pakistan.
Speaking on the occasion, the LCCI Chief Mian Anjum Nisar called for exchanging information between the two countries.
He said that vast scope exists for exporting dates, apple, citrus, potatoes, surgical instruments and chemicals to the Indonesian market. Apart from this, efforts must also be made to export rice and cotton in larger quantity than at present.
He said that construction and housing sectors of the country have been picking up growth since the government has emphasised on infrastructure development in the country.
During the past few years, mega ventures like Gwadar Port, extensive expansion of road network and infrastructure development promise positive response from the market.
Such projects put the demand and supply mechanism into effect and open doors of opportunity for foreign investors. Furthermore, these developments make a perfect case for transforming Pakistan as a gateway to Central Asian markets, he added.
Director General EPB, Haroon Rasheed in his speech, while taking note of absence of a commercial attaché in Jakarta, assured that he would make efforts for appointment on the said post.
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