Pakistan Turkey and Indonesia may form an Economic bloc in Future – Research Snipers

Pakistan Turkey and Indonesia may form an Economic bloc in Future

Punjab Board of Investment and Trade (PBIT) hosted an exclusive high profile business forum “Pakistan Indonesia Business Forum” participated by Indonesian business delegation in order to discuss the business opportunities in the province. Alwi Shihab, special representative of Indonesian President for the Middle East and OIC, stressed on formulating an economic bloc consisting of three brotherly countries including Indonesia, Turkey, and Pakistan.

The forum has highlighted the significance of close relations between business networks and people of both nations; both countries need cooperation in all fields to further develop the bond between the countries.  Pakistan and Indonesia need further swift policy making which could boost the bilateral economic relations.

It is worth mentioning that Pakistan and Indonesia have started to strengthen economic relations lately, the recent example is the export of Kinnow from Pakistan to Indonesia has reached $48 million. The export has seen 150% increase during the current fiscal year. All this happened due to Indonesian government cooperation and relaxed rules in the trade agreement.

The head of delegation Alwi Shihab has elevated the significance of trade relations between Pakistan and Indonesia. He has shown his gratitude and courtesy towards making strong bilateral trade relationships with Pakistan. He said, the two countries have common beliefs on religion and International issues, the countries have already cooperated at multiple forums and stood by each other in the difficult times. But he stressed that there is a dire need to enhance the economic and trade cooperation between the countries, it is a great opportunity which shouldn’t be overlooked at the times when other nations are making strong nexuses with each other.

He further said youth from both countries should come forward and play a critical role in further developing the bilateral ties between the countries.

Vice Chairman PBIT while addressing the forum discussed the importance of CPEC and possible opportunities in it. He said we need foreign investment in the project which will create more jobs and reduce the poverty in the region. He said Punjab government is striving to make investment-friendly policies.