Pakistan, a major importer of palm oil to meet its domestic needs while Indonesia, the world’s largest producer of palm oil and its investors should set up joint ventures in Pakistan for production and processing of palm oil that would help in reducing our import bill.

Ahmed Hassan Mughal, President, Islamabad Chamber of Commerce & Industry said this while exchanging views with WisnuSuryoHutomo, Head of Economic & Commercial Department, Embassy of Indonesia during his visit to Chamber House.

ICCI President said that Pakistan’s palm oil import witnessed a 23 per cent increase during the first half of 2017-18 and stressed that Indonesia should cooperate with Pakistan in enhancing local production of this commodity.

Speaking on the occasion, WisnuSuryoHutomo, Minister Counsellor of Indonesian Embassy said that Indonesia was ready to cooperate with Pakistan in the cultivation of high-yielding palm plants in addition to establishing palm oil refineries in Pakistan for meeting its domestic needs.

He said that his country was also willing to set up joint ventures in the production and processing of palm oil along with manufacturing of high-value palm oil products in Pakistan.

Pakistan was exporting rice while there was a huge demand for Pakistani Kinnow and mangoes in Indonesia which should be exploited, he told.

He said both countries should focus on the regular exchange of trade delegations to further strengthen bilateral trade relations.