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Indonesia, Pakistan to implement PTA within weeks
Publication Date : 25-11-2012
Indonesia and Pakistan will soon be implementing the preferential trade agreement (PTA) signed earlier this year as the presidential decree to support the execution has been issued, Trade Minister Gita Wirjawan said.
The agreement would come into effect within the coming one to two weeks, Gita said in Jakarta on Friday.
As the deal would open wider access to local goods and commodities, Indonesia was expecting to boost its exports of palm oil, coal and paper, he added.
“Pakistan is also a hub for introducing our products into neighbouring countries, such as Afghanistan, Iran and Nepal,” he told reporters at his office.
Once the agreement comes into effect, Indonesia will trim Pakistan’s import duty on 216 goods, including fresh fruit, cotton yarn, cotton fabrics, ready-to-wear garments, fans, sporting goods and leather goods.
Pakistan, on the other hand, will cut its rates on 287 Indonesian products, such as crude palm oil and its derivatives, sugar confectionery, cocoa products, consumer goods, chemicals, tableware, kitchenware, rubber products, wood products, glassware and electronics.