There are opportunities to boost trade between Pakistan and Indonesia, which both countries should explore. At the Pakistan Soap Manufacturers Association (PSMA) annual dinner, Indonesian Ambassador Dr. June Kuncoro Hadiningrat emphasized the potential of the bilateral trade. Speaking on the occasion, Dr. June Kuncoro Hadiningrat provided the most recent data on Pakistan's imports of palm oil. He also extended an invitation to the association members to attend the Jakarta-based Single Country Pakistan Expo. He said the Indonesia-Pakistan Preferential Trade Agreement (IPPTA), signed in 2012, are scheduled to be converted into a Free Trade Agreement (FTA) or Indonesia-Pakistan Trade in Goods Agreement (IP TIGA) this year. As a result, both governments have agreed to increase the level of economic cooperation. He also emphasised the flood relief operations carried out by the Indonesian government in Pakistan.

PSMA Chairman Shahzad Paracha stated that his organisation has been in operation since 1968. "There are about 150 member firms, including global corporations, that pay over Rs70 billion in taxes and employ approximately 700,000 individuals from the country's workforce." Usman Ahmed, former Chairman and current Convener of PSMA Customs Committee & CEO of Gamalux Oleochemicals Limited, provided a thorough review of Pakistan's economic landscape and highlighted the PSMA's commitment to flood relief efforts. Chief Executive of Pakistan Edible Oil Conference (PEOC) Rasheed Jan Mohammed commend the Association's services for the country’s economic development and its proactive approach to the resolution of industry problems.

Credit: Independent News Pakistan-WealthPk