Indonesia sets $50 billion e-commerce trade target by 2025: Envoy

 

ISLAMABAD, Nov 21: Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio on Sunday has said that Indonesia has set US$50 billion e-commerce trade target by 2025 to connect with the biggest sector of global trade.

 

There are vast opportunities in e-commerce trade between Pakistan and Indonesia, which will increase bilateral trade and investment opportunities on both sides, Ambassador of Indonesia to Pakistan, Adam Mulawarman Tugio said.

 

The Ambassador said that Pakistan and Indonesia are countries with large youth populations that can make their mark in the global e-commerce trade and create vast employment opportunities in both the countries.

 

He said that global retail e-commerce sales in 2020 stood at US$ 4.28 trillion, which is expected to reach US$ 5.4 trillion by 2022. He said that there is an era of Information Technology (IT) and online connectivity in the world and now the big global brands are connected to small and big markets and are continuing their business activities.

 

The Ambassador said that Pakistan and Indonesia can be linked with e-commerce trade to increase bilateral trade as well as connect both sides’ youth in connection of business and trade. With such connections, young people from both the countries and people can benefit from each other’s experiences and skills to promote economic and cultural integration.

 

He said that e-commerce integration in both the countries could also help in promoting tourism in both of countries and strengthen the ties between the people of both countries.

 

Tugio said that Pakistan and Indonesia are among the most beautiful countries in the world and with the promotion of tourism in both countries mutual economic activities would reach its peak. He said that the two countries have similarities in many areas, including religion, culture, architecture, landscape, and cuisine which must be familiar to the people of both countries.

 

Replying to the question, he said Indonesia had made investments in Palm oil in Karachi which would enhance economic cooperation between the two countries, adding that in the near future while taking interest in investing in Faisalabad, steps would be taken for this in the near future.

 

Responding to another question about Indonesia’s rapid economic growth and economic reforms, he said Indonesia was the first to work on Ease of Doing Business (EODB) and business facilitation, which encouraged foreign investors.

 

The Ambassador said a number of achievements had been achieved following the World Bank’s Ease of Doing Business (EODB) targets and then there was the devolution of power in Indonesia for strengthening of the local body system, which led to a strong federation.

 

The Ambassador said that Pakistan and Indonesia had strong prospects for the proposed bilateral Free Trade Agreement (FTA), which would help strengthen economic and trade ties between the two countries. The Preferential Trade Agreement (PTA) already existed in both the countries which opened up the possibility of increasing bilateral trade, he said.

 

The Ambassador said Indonesia had recently reduced trade tariffs for facilitating to Pakistan in 20 trade items in the bilateral PTA review. The Ambassador said Indonesia had a strong role to play, adding, progress was being made to enhance economic and trade integration between Pakistan and the Association of Southeast Asian Nations (ASEAN).

 

Discussing the cultural and educational ties between the two countries, he said 11 percent of scholarships were awarded to Pakistani students this year, which was 52 percent of developing countries. He said this year 60 Pakistani students went to Indonesian universities to study.

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