Under the preferential trade agreement (PTA), Indonesia has allowed the import of 20 Pakistani products. It will increase the bilateral trade by almost $150 million. This has been disclosed by the Adviser to Prime Minister on Commerce, Textile, Industry and Investment Abdul Razak Dawood.
The advisor said that the 20 Pakistani products will have free access to Indonesian market immediately. National Tariff Policy will be approved in a meeting of the federal cabinet that will be held on Thursday. The aim of the meeting will be to fix the taxes for a time period of 3 to 4 years.
It was admitted by the adviser that the previous PML-N government initiated the process for market access of Pakistani products in Indonesia and the present PTI government is just working ahead with the same agenda.
He said, “We have just received a message from Indonesia that Parliament has passed and approved market access on 20 tariff lines under PTA and it would be notified within the next one to two days.”
The 20 items Pakistan will be able to export include mangoes, broken rice, un-denatured ethyl alcohol, tobacco, clothing & apparels, fibre, woven cotton, T-shirts, bed line , and kitchen linen.
Furthermore Dawood also revealed that 28-53 members, businessmen will be taken to Japan on December 10th. They will ask for ungrading the auto and engineering industry. The Global Chairman Suzuki Motors visited and expressed an interest to invest around $450 million in a new plant. He said, “We have been asking Suzuki to put Pakistani vendors in the global network.”