Pakistan to import LNG, petroleum products from Indonesia

ISLAMABAD: In a significant development, Pakistan Saturday inked an agreement with Indonesia for import of liquefied natural gas (LNG) and Petroleum Oil Lubricants (POL).

The signing ceremony took place in the presence of visiting Indonesian President Joko Widodo and Prime Minister Shahid Khaqan Abbasi.

The two leaders had one on one meeting at the Prime Minister House that was followed by the delegation level talks.

The two exchanged views on bilateral relations and a wide range of international and regional issues of shared interest.

The two leaders reaffirmed that the people of Pakistan and Indonesia shared deep political, cultural and religious ties and respect for democratic values.

Being the largest countries in the Islamic world, the two stand together for their progress, prosperity, stability, security and territorial integrity.

Besides agreeing to strengthen their defense and security cooperation, the two leaders also agreed to intensify counter-terrorism cooperation.

Prime Minister Abbasi briefed President Widodo on Pakistan’s counter-terrorism efforts.

The two leaders agreed that there was a need to improve the trade imbalance.

The two sides acknowledged that there was considerable untapped potential to expand trade taking advantage of the PTA.

The two sides agreed to further increase tariff lines under the existing mechanism of Preferential Trade Agreement between the two countries.

There was also unanimity of views to work together for gradually taking PTA to the level of Free Trade Agreement.

The two leaders emphasised the importance of cooperation at the multilateral forums.

Indonesia reiterated its support for Pakistan’s bid for Full Dialogue Partnership with Asean. It also assured Pakistan of support in its bid for Indian-Ocean Rim Association.

It also expressed its keen interest in being part of the China Pakistan Economic Corridor (CPEC), as Pakistan has generously offered its businessmen to benefit from the multibillion project’s vast investment opportunities. Discussing the regional situation, Abbasi briefed President Widodo on Pakistan’s efforts to promote peace and reconciliation in Afghanistan. He also appreciated Indonesia’s desire to assist Afghanistan in peace and reconciliation which is vital for regional security.

He also briefed President Widodo on the steps taken by Pakistan to resolve all outstanding issues with India including the core issue of Jammu and Kashmir. He highlighted the grave human rights situation in Indian Held Kashmir (IHK).

After the talks, Prime Minister Abbasi and President Joko Widodo attended a signing ceremony of MoUs/agreement on Import of LNG and POL products from Indonesia, Additional Protocol to Preferential Trade Agreement for 20 new tariff lines, MoU on Trade facilitation and MoU between Foreign Service Academy and Centre of Training and Education Indonesia. Meanwhile, a delegation of World Bank headed by Regional Vice President Ms. Annette Dixon met with Prime Minister Shahid Khaqan Abbasi at the Prime Minister's House (PMO) here.

Ms. Annette Dixon was accompanied by Patchamuthu Illangovan, Country Director World Bank; Ms. Snezana Stoilikovic, Regional Vice President IFC; and Nadeem Siddiqui.

Minister for Water Resources Syed Javed Ali Shah, Foreign Secretary Ms. Tehmina Janjua, Secretary Finance Arif Ahmed Khan, Secretary Water Resources Shamail Ahmed and other senior officers were also present during the meeting.

Various ongoing developmental projects being undertaken in partnership with the World Bank and the dispute with India over Kishanganga and Ratle projects came under discussion.

The prime minister informed the delegation of the overall reform agenda of the present government which resulted in revival of economy, putting economic growth on an upward trajectory.

Abbasi said significant improvement in law & order, management of energy crisis and massive infrastructure development being undertaken under the umbrella of CPEC project would further strengthen the economy and improve the overall economic outlook. The prime minister said the government was also taking concrete measures to improve ease of doing business in the country.

The prime minister emphasised that Pakistan looked forward to the World Bank support on timely completion of the ongoing development projects and, in particular, expected the bank to help resolve the water dispute with India by effectively playing the role mandated to it under the Indus Water Treaty. Ms. Annette Dixon assured the prime minister of continued support of the World Bank to the country.