Karachi: Top diplomatic and Foreign Office sources say that more than 10 MoUs are going to be signed between Indonesia and Pakistan very soon, and the two sides will also hold further discussions on a free trade agreement to further strengthen trade relations.
It should be remembered that the Indonesian President was supposed to visit Pakistan from January 26 to 28, but due to unavoidable reasons, this visit could not be possible, now the Indonesian President’s visit will be rescheduled soon.
During the expected visit, discussions will be held on increasing education, IT, tourism, energy and food, and military cooperation and the agreements will be finalized.
If the trade prospects between the two countries are examined, Pakistan has the potential to export processed food, pharmaceuticals, IT services, and halal meat to Indonesia.
While Indonesia can supply Pakistan with electronics, auto parts, and processed palm-based products, in 2023, Pakistan sold goods worth $328.16 million to Indonesia, while Indonesia sold goods worth $3.03 billion to Pakistan.
It should be noted that Indonesia produces half of the world’s nickel, and Indonesia intends to position this nickel prominently in the world’s electric vehicle supply chain.
Indonesia wants to capture the lithium battery and electric vehicle market, especially in Asia and Central Asia, so joint projects in lithium batteries would be in the best interest of both countries.
Read more:https://timelinenews.com.pk/strict-fiscal-measures-needed-for-1-1-billion-imf-tranche/
