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

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ISLAMABAD, Nov 21 (DNA): Ambassador of Indonesia to
Pakistan, Adam Mulawarman Tugio on Sunday 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. DNA

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