In order to facilitate increased trade between both the countries, Punjab Board of Investment & Trade (PBIT), Embassy of the Republic of Indonesia in Islamabad and E-Commerce Gateway Pakistan Private Limited have launched Business to Business (B2B) online portal.
Earlier, the first Indonesia-Pakistan Business to Business (B2B) Hybrid Road Show 2021 was organized where the B2B online portal to facilitate increased trade between both the countries was launched. Punjab Minister for Industries and Trade Mian Aslam Iqbal and Ambassador of Indonesia to Pakistan Adam Tugio inaugurated the online portal.
The initiatives intended to provide a platform for business communities of the two countries to get more information which may have to increase commercial transactions potential various fields such as health, pharmaceutical, food, agriculture, textile and furniture.
While addressing the inaugural ceremony, the provincial minister said Pakistan and Indonesia shared deep potential, cultural, religious ties and respect for democratic values. “Being the largest countries in the Islamic world, the two stand together for their progress and prosperity.”
He further said, “Indonesia-Pakistan preferential trade agreement (PTA) has been beneficial for private businesses of both countries and instrumental in focusing growth in Pakistan. The level of trade and investment between the two countries has not kept pace with global trends. There is considerable untapped potential to expand trade taking advantage of the PTA.”
Provincial Minister further said, “As a result of bold economic reforms of the PTI government, we have achieved significant improvement in all major economic fronts; Pakistan’s economic growth has increased despite the challenges of COVID-19.”
Speaking on the occasion, Minister invited the business communities, said, “I invite the business communities of both countries to make use of the attractive incentives package available in our special economic zones and export processing zones and set up their manufacturing units there.”