Daily Times

Islamabad Chamber of Commerce and Industry (ICCI) on Thursday urged the Indonesian authorities for restoring the normal export of palm oil to Pakistan as it was a major importer of palm oil from Indonesia. While talking to Adam M. Tugio, Ambassador of Indonesia, who visited the Islamabad Chamber of Commerce and Industry, Faad Waheed, Acting President ICCI said that Indonesia has placed curbs on the export of this commodity, which has created concerns in the cooking oil and ghee manufacturers in Pakistan. He said it would create a shortage of this food item in the country and create problems for the consumers. He said that Pakistan and Indonesia are two important countries of the Muslim world and a lot of opportunities are waiting for their private sectors to enhance cooperation in multiple fields. He said that both countries should facilitate regular exchange of trade delegations and encourage their investors to explore investment opportunities in both countries to achieve mutually advantageous economic benefits. He highlighted Pakistan’s prospective industries for cooperation with Indonesia including information technology, tourism, pharmaceuticals, textiles, cooking oil, and others. He reaffirmed ICCI’s commitment to strengthen liaison with the Indonesian Embassy in order to improve business linkages between the private sectors of both countries. Speaking on the occasion, Adam M. Tugio, Ambassador of Indonesia, said that his country is now focusing on biofuels to meet the rising domestic demand, which has prompted the need to reduce the export of palm oil. He said that Pakistan can export many products to Indonesia including pharmaceuticals, surgical and medical equipment, footballs, and leather products. He said that both countries have good scope to enhance cooperation in the hospitality sector. He said that Pakistan has great potential to promote religious tourism. He said that the business community of Pakistan should identify areas of its comparative advantage and he would connect them with Indonesian counterparts to improve bilateral trade.