President of Islamabad Chamber of Commerce and Industry (ICCI) Faad Waheed has requested the Indonesian government to resume regular palm oil exports to Pakistan as the current situation is raising worries among the country's producers of cooking oil and ghee. Speaking with the Indonesian Ambassador Adam M. Tugio, who paid a visit to the ICCI, the president stated that Pakistan is a significant importer of palm oil from Indonesia, but Indonesia has put restrictions on the export of this commodity. He said that it would result in a shortage of ghee and cooking oil in Pakistan and cause difficulties for customers.

He stated that Pakistan and Indonesia are two significant Muslim countries and that their private sectors have a lot of chance to improve collaboration in a variety of areas. According to him, in order to achieve mutually beneficial economic gains, both countries should arrange regular exchange of trade delegations and encourage their investors to look into investment prospects in both countries. He named many potential sectors for Pakistan and Indonesia to collaborate on, including information technology, tourism, pharmaceuticals, textiles, and cooking oil.

In order to develop business ties between the private sectors of both countries, he emphasised ICCI's commitment to intensifying interaction with the Indonesian Embassy. Speaking at the event, Indonesian Ambassador Adam M. Tugio said that his country is now concentrating on biofuels to fulfil the growing domestic demand, which has necessitated the reduction of palm oil exports.

He said that Pakistan can sell a wide range of goods to Indonesia, including pharmaceuticals, equipment for surgery, medicine, footballs, and leather goods. There is room for improvement in the hospitality sector between the two countries, he added. According to him, Pakistan also has enormous potential to advance religious tourism.

The envoy stated that in order to increase trade between Indonesia and Pakistan, the business community in Pakistan should identify areas where it has a competitive edge. He said that a private airline in Indonesia will begin operating direct flights to Pakistan to foster better interpersonal and business ties.

Credit: Independent News Pakistan-WealthPk