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[News] Indonesia Got Potential Textile Investment From Pakistan
Posted at: 05 February 2018

The Indonesian Trade Ministry`s Trade Mission to Pakistan has recorded potential trade and investment transactions of US$115.02 million.

"The transaction covers several commodities of palm oil, cocoa, coffee, spices and tea," Trade Minister Enggartiasto Lukita said here on Wednesday.

In addition, Indonesia`s energy sector has signed an Inter-Government Agreement (IGA) for liquefied natural gas (LNG) export to Pakistan.

Indonesia, through the National Oil Company, PT Pertamina, will export LNG of 1.5 million tons per year to Pakistan LNG Ltd for ten years. This contract can be extended for another five years. The potential transactions resulted from the contract amounted to US$6.4 billion.

In a series of trade missions to Pakistan, Enggartiasto and Pakistani Textile Industries and Trade Minister Mohammad Pervaiz Malik also witnessed the signing of a memorandum of understanding between the Indonesian Chamber of Commerce and Industry (Kadin) with the Federation of Pakistan Chamber of Commerce and Industry (FPCCI).

The memorandum of understanding is aimed at encouraging businesses of both countries to increase trade and information exchange. Meanwhile, in a business forum and one-on-one business matching, there were more than 100 Pakistani business actors to meet directly and do business with their Indonesian counterparts