2017 Expo Pakistan kicks off
The Jakarta Post
Pakistan’s largest trade event kicked off on Thursday in Karachi, aiming to introduce its expertise and goods to the world by inviting 1,300 delegates worldwide, including 70 from Indonesia.
The four-day event showcases various goods and services, ranging from leather, cotton, surgical instruments, sporting goods, home décor, gems and jewels to agriculture products, aims to pocket more than US$1 billion worth of transactions.
“We are trying to highlight the trade potential of our country. Our objective is to show the world that our competitiveness is not limited to a few products,” Muhammad Usman, commercial attache with the Pakistan Embassy in Indonesia told The Jakarta Post on Thursday.
Pakistan, which is reforming its economy following internal security issues, booked a trade deficit that fluctuated between $19 billion and $26 billion from 2012 to 2016, Trademap data shows.
The deficit declined 22.3 percent to $20.5 billion in 2016. The county’s major export commodities are textile and clothing, cotton, cereals and leather.
Indonesia is Pakistan’s fourth-biggest importer with 4.4 percent market share. The Southeast Asian country has been enjoying a $2 billion surplus over the past five years.
Two-way trade between the two countries improved as of August, with exports from Indonesia having increased 28.2 percent to $1.6 billion, while imports from Pakistan increased 39.7 percent to $128.9 million. (bbn)
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