Daily Times

Ambassador of Indonesia to Pakistan, Adam M Tugio on Thursday said Pakistan and the Association of South-East Asian Nations (ASEAN) countries need to introduce new dimensions for enhancing bilateral trade and economic ties.

Chairman ASEAN Islamabad Committee and Indonesian Ambassador to Pakistan said this at the round table conference jointly organized by Pakistan ASEAN, Business Forum and United Business Group (UBG) in Islamabad.

The ambassador said that relations between both sides’ governments, the business community and the people on both sides need to be further improved.

He said that there was a need to re-establish Pakistan’s relations with the Association of Southeast Asian Nations (ASEAN) countries through renewing the link between the business communities of both sides.

Direct air links to ASEAN countries and Pakistan in the near future, bilateral Free Trade Agreement (FTA), trade dialogue and aggressive economic diplomacy, Business-to-Business and Government-to-Government Cooperation, elevation from the sectoral to full dialogue partner, strong multilateral linkages between Institutions could pave new avenues for economic and trade cooperation, senior diplomats proposed.

The ambassador said there had been a major policy breakthrough under the incumbent government, adding, when the government had shifted its policy from a geopolitical to a geoeconomic approach, which would further strengthen Pakistan’s economic and trade relations with a potential trading partner like ASEAN.

The Indonesian envoy said relations between the two sides, business communities and the contacts among people were considered important, as well as expanding bilateral trade in accordance with trade and economic capabilities and implementation of economic and trade policies and agreements.

He said Pakistan also had a free trade agreement with China and the same FTA had been signed between ASEAN and China from which both countries can benefit.

He said Pakistan and ASEAN needed to work on more potential sectors and increase their regional approach for increasing bilateral trade in more sectors and increase their regional approach for bilateral trade.

Speaking on the occasion, President United Business Group (UBG) Zubair Tufail said the volume of bilateral trade between ASEAN and Pakistan was only $7 billion which was far below its potential.

The ASEAN countries developed economically through the regional economic and trade alliance and the development of ASEAN countries Indonesia, Malaysia, Vietnam and Thailand are unprecedented.

On the occasion, while talking to APP General Secretary, UBG and former ICCI President Zafar Bakhtawari said a Free Trade Agreement was needed between Pakistan and ASEAN to promote economic and trade relations between the two sides.

There should be a direct air link between ASEAN countries and Pakistan to enhance bilateral ties on both sides. He said that the industry should be shifted from ASEAN and industrial cooperation should be further enhanced.

He said trade, economic, cultural and people-to-people contacts between the two sides would have to be further enhanced.

On this occasion, Malaysia’s Charge’ di Affair increased in ASEAN-Pakistan trade volume.