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KARACHI, Jan 09 (APP):Federal Minister for Commerce Jam Kamal Khan on Friday said Pakistan’s trade and economic relationship with Indonesia is moving from recovery towards stability, with strong prospects for expansion, particularly in the palm oil sector and other emerging areas of cooperation.
Speaking as the chief guest at the Indonesia Palm Oil Networking Reception held at a local hotel, the minister highlighted the growing partnership between the two countries, calling recent high-level exchanges a clear sign of mutual trust and long-term commitment.
Jam Kamal Khan said, “This bilateral relationship has real strength, and it will only grow with time”.
Referring to Pakistan’s recent economic challenges, the commerce minister acknowledged that the country went through a difficult phase marked by high inflation, elevated interest rates and trade constraints. However, he said the situation has improved significantly. “From recovery to stability, Pakistan has taken a difficult but necessary course. While conditions are not yet ideal, the direction is positive and encouraging,” he added.
Jam Kamal Khan stressed that economic revival depends heavily on the private sector, praising Pakistani businesses for their resilience during tough times. He said the government has increased engagement with the private sector through regular consultations and joint working groups, allowing businesses to directly propose reforms and policy measures.
Highlighting Pakistan’s expanding foreign diplomacy, the minister said the country has strengthened trade ties with ASEAN, Gulf, Central Asian, European and US markets. He added that frequent visits by foreign leaders and Pakistani delegations over the past year reflect renewed international confidence in Pakistan’s economy.
The minister also spoke about future initiatives, including Pakistan’s plan to organize a single-country exhibition for ASEAN markets, potentially in Jakarta. He said the exhibition would give Pakistani exporters an opportunity to showcase products, explore new markets and build partnerships across the region.
Jam Kamal Khan further emphasized the importance of trilateral trade opportunities, encouraging Pakistani and Indonesian businesses to jointly explore markets in Africa, Central Asia and Southeast Asia. “Bilateral trade alone is not always enough. Trilateral and joint ventures can unlock new regions and create sustainable growth for all partners,” he said.
The event also featured keynote remarks by the Vice Minister of Trade of the Republic of Indonesia and Indonesian Ambassador Lt. Gen. (Retd.) Chandra W. Sukotjo, who highlighted the long-standing bilateral relationship, the importance of the palm oil industry, and people-to-people ties as the foundation of Pakistan–Indonesia relations.
The reception concluded with a Memorandum of Understanding (MoU) signing ceremony, underscoring both countries’ commitment to deepening collaboration in trade and investment.