PBIT, Indonesian embassy to create joint working group

LAHORE:Punjab Board of Investment and Trade (PBIT) and Indonesian Embassy in Pakistan have agreed to establish a Joint Working Group to enhance the economic and trade ties between Pakistan and Indonesia.

It was decided in a meeting between Ambassador of Indonesia, Adam Mulawarman Tugio who along with a trade delegation visited Punjab Board of Investment and Trade here Monday. A broad-based discussion was held with the senior officials of PBIT on enhancement of bilateral trade and investment opportunities in Punjab.

PBIT CEO Dr Erfa Iqbal briefed the delegation on various sectors and availability of numerous potential opportunities for investors in Punjab. She pointed out that Special Economic Zones (SEZs) were being set up in all the provinces and regions of Pakistan. The immense potential for collaboration existed in the areas of food and agriculture business, tourism, food processing, automobile, textile, IT and construction sectors.

The Ambassador thanked PBIT team for welcoming them and highlighting the prospective opportunities present in Punjab. The delegation showed keen interest in Halal food, tourism, value addition of food items and automobiles. They focused on creating linkages between the investors from both sides for further collaboration, considering it a concrete step towards building a trade relation between Pakistan and Indonesia to promote economic cooperation that are looking to explore the international markets.

Both sides agreed upon establishing a joint working group to promote valuable communication, collaboration and coordination for the expansion of the bilateral trade and commerce. The participants also agreed to organise Web conferences so that potential business communities can interact and collaborate to boost trade between respective regions. Observing the interest in agriculture as well as agro-based products, halal food, tourism and automobile industry, Dr Erfa Iqbal informed the Ambassador that Punjab was open for collaboration in exploring joint ventures in the prospective sectors.

The participants agreed to have joint investment conferences, trade fairs and exhibitions leading to B2B meetings so that business community can fully benefit from each other ensuring economic growth, job creation, prosperity and peace on a worldwide scale.