Indonesia keen to boost trade ties through SMEs

KARACHI: Small and Medium Enterprises (SMEs) are one of the fastest growing business segments in the region and have potential to enhance bilateral trade between Pakistan and Indonesia, presenting vital opportunities for entrepreneurs, an envoy said on Saturday.

Indonesian Consul General in Karachi June Kuncoro Hadiningrat said his country is keen in bolstering bilateral trade with Pakistan by promoting SMEs in both the countries.

“Bilateral trade between the two countries reached a record high of $3.9 billion in 2021 – showing a 54 percent increase as compared to 2020, when the total trade stood at $2.5 billion,” Hadiningrat said in a hybrid business-to-business (B2B) meeting to discuss trade opportunities between Pakistan and Indonesia.

The meeting was held in cooperation with special region of Jakarta, PT. Sarinah (Indonesian company), Karachi Chamber of Commerce and Industry (KCCI), and e-Commerce Gateaway Pakistan on second day of the International Consumer Products Fair 2022.

Delegations from both countries agreed to involve more SMEs to boost economic cooperation. The B2B meeting will continue with one-on-one online meetings between business communities from both countries, in which 41 Pakistani companies and 47 Indonesian companies will take part.

The meeting constitutes Indonesian G20 Presidency’ commitment of “recover together, recover stronger” to push forward the global economic development, including Indonesia and Pakistan. Talking on the occasion, Indonesia’s foreign ministry's director general for Asian, Pacific and African affairs, Ambassador Abdul Kadir Jailani also extended his support to positive trade increase between the two countries.

“Indonesian Consulate has actively conducted 151 economy-related activities and has also launched the Indonesia-Pakistan Portal. The portal platform has attracted 23 business inquiries from Indonesian companies and 115 from Pakistan,” he informed.

Representing the Pakistani business community, Muhammad Idrees, KCCI president, Abid Nizar, Chairman of Pakistan Indonesia Business Council (PIBC), Shamoon Zaki, Chairman of Pakistan-Indonesia Business Forum (PIBF), and other businessmen reaffirmed the importance to develop economic further diversification, apart from coal and palm oil.

The meeting was also briefed with importance of a metropolitan city like Karachi and its strategic position with over 30 countries involved, 33 developed sectors, and seven industrial areas to develop economic ecosystem of the country.