HCSTSI President welcomes simplification of visa policy by Indonesia

HYDERABAD: Muhammad Farooq Shaikhani, President, Hyderabad Chamber of Small Traders & Small Industry, while addressing the reception given by the Acting Consul General of the Republic of Indonesia in Karachi, Teguh Wiweko, on the occasion of the 39th Indonesia Trade Expo 2024, stated that Pakistan and Indonesia are two Islamic brotherly nations. The friendship between the two countries is enduring and long-standing.

Shaikhani expressed his appreciation for the recent simplification of the visa policy by the Indonesian government, noting that it has facilitated the travel of our business community to Indonesia, opening up new business opportunities. He highlighted the need for this visa facilitation to extend beyond the 39th Indonesia Trade Expo and be maintained throughout the year, ensuring continued ease of access for business activities.

He pointed out the significant role that the business community of Hyderabad, Sindh, plays in Pakistan's economy. He emphasized that Hyderabad is a city where small entrepreneurs and industrialists have flourished, making vital contributions to both the local and national economy. Renowned globally for its Bangle and textile industries, Hyderabad's business sector holds great potential. Facilitating access to the Indonesian market for these entrepreneurs would not only benefit Hyderabad but also positively impact Pakistan's overall economic growth.

He further noted that enhanced communication between the Indonesian Consul General and the Hyderabad Chamber would be instrumental in providing Pakistani products with greater access to the Indonesian market. He suggested that regular follow-up meetings after events could address and resolve any challenges faced by businessmen, particularly in obtaining visas. This collaboration would pave the way for smoother business operations and stronger economic ties between the two countries.

Acting Consul General of the Republic of Indonesia in Karachi, Teguh Wiweko, responding to the remarks of the Chamber President, announced that the 39th Trade Expo Indonesia will be held this year from October 9 to October 12, under the theme 'Build Strong Connection with the Best of Indonesia.' He stated that the longstanding history of mutual cooperation and development between Indonesia and Pakistan, highlighting that the strength of their economic partnership is evident in the consistent growth of trade relations over the years.

Wiweko pointed out that despite global challenges, the bilateral trade between Indonesia and Pakistan reached an impressive $3.34 billion in 2023, with a remarkable growth of 69.99% in the first quarter of 2024. Indonesian products, including coffee, biscuits, noodles, and children's food items, are gaining significant popularity in Pakistan. Indonesia's crude palm oil holds a dominant 80% share of the Pakistani market.

Wiweko also noted a significant recent development, the increase in imports from Pakistan to Indonesia, particularly rice. Pakistan's rice exports to Indonesia have emerged as a success story in recent years, further strengthening the economic ties between the two nations.

He highlighted that in 2023, Indonesia imported approximately 500,000 metric tons of rice from Pakistan, with a total value exceeding $300 million. This remarkable achievement represents a more than 100% increase in Pakistan's rice exports to Indonesia compared to $188 million in 2022. These impressive figures underscore the immense potential for further development and collaboration between our two nations.

Wiweko further shared that last year's Trade Expo attracted over 33,000 visitors from 114 countries, resulting in business deals worth $25.3 billion. This year, the goal is to expand even further, capitalizing on the strong foundation already established.

To encourage participation, he assured free transportation and accommodation for participants attending the 39th Trade Expo from the Hyderabad Chamber of Small Traders & Small Industry. He warmly welcomed the interest shown by all exporters and importers from the chamber in this significant event.

Copyright Business Recorder, 2024