By Our Correspondent
LAHORE – The Ambassador of Indonesia Chandra W. Sukotjo on Monday visited the Lahore Chamber of Commerce and Industry along with his economic team.
“My mission is to further deepen trade and economic cooperation between the two brotherly countries”, the Ambassador said in his address. LCCI President Mian Abuzar Shad and Senior Vice President Engineer Khalid Usman also spoke on the occasion while Vice President Shahid Nazir Chaudhry, Executive Committee Members were present in the meeting.
Indonesian Ambassador said that Pakistan and Indonesia are not just trading partners but also share strong historical, cultural and religious ties. He said that business-to-business linkages and direct facilitation for entrepreneurs will play a vital role in advancing mutual economic goals.
The Ambassador underlined that there exists vast potential for collaboration in mining, energy, industrial sectors, agriculture, pharmaceuticals, processed food, renewable energy and healthcare. He said that Pakistan has best strategic geographical importance and stressed that Indonesia offers wide investment opportunities which Pakistani entrepreneurs can benefit from through joint ventures and partnerships.
LCCI President Mian Abuzar Shad congratulated the Ambassador on assuming charge of the Indonesian Embassy in Islamabad. He said that the Lahore Chamber of Commerce and Industry has always enjoyed strong ties with the Embassy of Indonesia and hoped that these relations would grow even stronger under Ambassador Sukotjo’s tenure.
Mian Abuzar Shad talk highly about the importance of Pakistan-Indonesia relations, recalling that both countries are the two largest Muslim nations in terms of population and are important members of the Organisation of Islamic Cooperation (OIC).
He further pointed out that Indonesia is the largest economy in ASEAN, with a GDP of over $1.4 trillion and plays a pivotal role in global trade.
While appreciating the existing trade framework, the LCCI President expressed concern over the negative trade balance with Indonesia.
He informed that during FY 2024-25, Pakistan’s imports from Indonesia stood at around $2.9 billion, while exports were only $271 million. He stressed the need to explore new avenues of trade, reduce the trade deficit, and increase bilateral trade volume to at least $5 billion.
He also urged making better use of the current Preferential Trade Agreement (PTA) and exploring the possibility of a Free Trade Agreement (FTA) in the future.
LCCI Senior Vice President Engineer Khalid Usman said that Pakistan’s imports from Indonesia primarily consist of palm oil, coal, artificial staple fibers, and paper, while exports mainly include rice, tobacco, woven fabrics of cotton, citrus fruits, leather, frozen fish and corn.
However, Pakistan has great potential to enhance its exports to Indonesia in value-added textiles, pharmaceuticals, processed food, light engineering, surgical instruments and sports goods.
He suggested that commercial sections of both countries’ diplomatic missions should play a proactive role in exploring these potential sectors.
He underlined that now is the right time to strengthen business-to-business linkages through trade fairs, exhibitions, and the exchange of business delegations.
Engineer Khalid Usman proposed enhanced collaboration through joint ventures in defence, education, agriculture and tourism, which could further cement bilateral relations.
