PAKISTAN: Talks ongoing for FTA with Indonesia
Indonesia and Pakistan are actively engaged in negotiations to sign Free Trade Agreement (FTA) to increase their volume of trade and investment, with textile business thriving between the two countries.
Ibnu Prispermana, Charge d' Affaires of the Embassy of the Republic of Indonesia said that both the countries have already singed the Comprehensive Economic Partnership (CEP) and now negotiations are underway to sign an FTA.
Trade between the two countries increased significantly during 2007 and has reached to around US$920m. Pakistan exports to Indonesia were US$73m consisting of raw cotton, cotton yarn, cotton fabrics, knitted and woven readymade garments, leather products, items of home textiles, synthetic fabrics including silk, flax and jute.
Indonesia exports to Pakistan were US$847m including synthetic textile, Viscose staple fiber, textile chemicals, machinery, yarn and thread of synthetic fibers, and children readymade garments.
By Ahmed Abdullah.
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