Pakistan and Indonesia are likely to sign Preferential Trade Agreement (PTA) next year, well-placed sources told Business Recorder here on Tuesday. Sources said an Indonesian delegation visited Pakistan last week and discussed various issues in that regard.
They said Pakistan would also establish a trade commission in Indonesia, which would help in location of other beneficial markets for Pakistani goods.
The delegation was of the view that signing PTA would be in the best interest of both the countries, they added. According to sources delegation from both the sides would visit each other. Negotiations at diplomatic level and exchange of trade delegation would further contribute to early signing of PTA.
Signing that agreement would help in providing access to markets of other Far Eastern countries, which would boost the volume of trade, sources said. The agreement would also pave the way for Free Trade Agreement (FTA), sources added.
Indonesia being an Islamic country and having good diplomatic and trade relations with Pakistan wanted to extend trade relations with Pakistan.
Sources said the Indonesian President Megawati Soekarnoputri in August 2003 also visited here and discussed avenues of trade with the authorities. After that visit the trade negotiation were in full swing and both countries to enhance bilateral trade. The delegation also showed interest in the import of Pakistani goods, especially cotton, textile and leather products.
They said Indonesia was a big market for Pakistani products and added if only the dates were exported Pakistan could earn huge amount of foreign exchange.
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