Pakistan and Indonesia, both members of the Organization of Islamic Cooperation (OIC), have reaffirmed their commitment to enhancing cooperation in trade, economic, and mutual interest sectors with the support of the Special Investment Facilitation Council (SIFC). This development marks a significant step forward in bilateral relations between the two nations.
The recent Trade Expo Indonesia served as a platform for fostering bilateral cooperation, with a Pakistani trade delegation in attendance. During the event, business-to-business agreements and memoranda of understanding worth $10.70 million were signed between Pakistani and Indonesian entities.
These agreements cover a wide range of products and sectors, including copra, gum, copal, cocoa, dried coconut, ginger, and spices. Additionally, deals were struck in consumer goods and auto parts industries. The accords reflect joint efforts by various stakeholders, including private companies, business organizations, and government institutions.
Tego Viveko, Indonesia's Acting Consul General, praised the Pakistani delegation's participation, describing it as a crucial step towards strengthening economic and trade relations, particularly with the business community in Sindh province.
Abid Nisar, Chairman of the Pakistan Indonesia Business Council, expressed optimism about the improving economic ties between the two countries. He stated, "The roots of relations between both countries are connected to history and culture. These memoranda of understanding will bring mutual economic benefits and prosperity for both nations."
As a member of the G20, Indonesia has also offered to share its experiences to help Pakistan achieve economic stability.
The SIFC's role in facilitating these economic initiatives between Pakistan and Indonesia is expected to contribute significantly to the strengthening of Pakistan's economy.
