Indonesia urged to implement PTA

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KARACHI: Indonesian ambassador to Pakistan Burhan Muhammad has been urged to expedite enforcement of a preferential trade agreement (PTA) signed with Pakistan in February 2012. At a meeting with Muhammad, Haroon Agar, president, Karachi Chamber of Commerce and Industry (KCCI) said that signing the PTA on the 62nd anniversary of Pak-Indonesia Friendship was crucial to increasing economic cooperation.

Agar believes that PTA will bring business communities of both countries closer and will boost bilateral trade ties. He hoped that negotiations for a Free Trade Agreement (FTA) will be initiated next. As a result of PTA, Pak-Indonesia bilateral trade could escalate to $2 billion in the coming years from the current $1.3 billion.

Muhammad said that there was some delay in the enforcement. He is to meet Pakistanís secretary commerce and the Indonesian trade minister shortly.

Courtesy: The News

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