Minister of Trade, Republic of Indonesia Gita Wirjawan on Thursday said Preferential Trade Agreement (PTA) signed with Pakistan earlier this year will become operational within two weeks’ time.
He said that implementation of PTA signed on February 4, 2012, will not only improve relations between brotherly countries but also provide level playing field to all the exporters of edible oil having interests in lucrative Pakistani market.
Gita Wirjawan said this while talking to a select group of edible oil importers led by Atif Ikram Sheikh, Senior Vice President, Pakistan Vanaspati Manufacturers Association (PVMA) who is also Chairman Coordination, FPCCI Capital Office, Islamabad.
Akbar Iqbal Puri, Malik Sohail, Leonard F. Hutabarat, Director General Asia Pacific and African Affairs, Muhammad Hartantyo, Ministry of Foreign Affairs Indonesia and others were also present in the meeting arranged by Indonesian Embassy.
The minister assured that Indonesia will provide every possible facility to Pakistani importers.
At the occasion, Atif Ikram Sheikh and Akbar Iqbal Puri said that imposition of PTA will provide incentives which will boost Indonesian exports to Pakistan.
Initially, Pakistan will save 35 USD per tonne on import of palm oil from Indonesia which will help country save 70 million dollars of precious foreign exchange per annum.
Atif said that Indonesia imports will not only help importers save money but it will assist manufacturers to clip prices which will benefit common man.
He said that PTA will also help Pakistani exporters to gain enhanced access to Indonesia market on 216 tariff lines on preferential rate.
This will be a great opportunity for Pakistani businessmen dealing in fresh fruits, cotton yarn, cotton fabrics, readymade garments, fans sports goods, leather goods and other industrial products, said Atif.
He observed that the development will help us anticipate future developments in a more-challenging global economy and diversify exports to increase its resilience amid the current economic slowdown.
