Pakistan'S 20 New Products Have Gained Market Access In Indonesia

Pakistan's "forum express" reported that Indonesia recently issued a notice to revise the Pakistan preferential trade agreement (PTA) in Indonesia, saying that it will immediately provide market access for 20 new products that Pakistan is most interested in.

The main products are mango, broken rice, alcohol, tobacco, yarn and fabric, home textiles, terry cloth, clothing and knitwear.

The article said that during the visit of the Indonesian President in January 2018, the two countries signed a memorandum of understanding to amend the preferential trade agreement.

Since then, the Indonesian trade minister and the Ministry of Commerce of Pakistan have met during the 2018 Shanghai Expo to discuss the Indonesian non-tariff barriers imposed on Pakistan's agricultural products.

Pakistan's Ministry of Commerce issued a statement on Monday, saying that "with the continuous efforts of the Ministry of Commerce, Indonesia has finally offered unilateral market access to Pakistan products".

Reported that the India Pakistan preferential trade agreement signed in 2012, but failed to help Pakistan increase exports to Indonesia.

After the entry into force of the agreement, Pakistan's exports to Indonesia fell from US $236 million in 2011/12 to US $141 million in 2016/17.

In 2012, bilateral trade between Indonesia and Pakistan amounted to US $1 billion 600 million, reaching US $2 billion 800 million in 2017/18.

Indonesia held a 3 Review Conference on this phenomenon, expressing concern about the adverse effects of preferential trade agreements on Pakistan's exports, and agreed to unilaterally give 20 zero tariff status to Pakistan's export interests.

The Indonesian formal notice on increasing tariff preferences has been issued and will take effect from March 1, 2019.

Pakistan's Ministry of commerce also said Pakistan also obtained special permits for mango export from Indonesia next season.