Talks between Pakistan and Indonesia over the weekend have extended the number of commodities to be covered by their preferential trade agreement (PTA), reported Indonesia’s Antara News.
“Previously PTA talks between the two countries focused on a reduction of import duty on Indonesia’s crude palm oil (CPO) exported to Pakistan and on Pakistan’s kinnow oranges exported to Indonesia,” said Indonesia’s trade minister Mari Elka Pangestu on the sidelines of the ASEAN summit in Thailand.
“But Pakistan also asked for an exchange of import duty cuts on other commodities besides on the CPO and oranges.”
Both countries will propose new commodities to be covered by the agreement in later discussions, and Ms Pangestu said there were tens of tariffs to be agreed upon before the PTA was formally signed.
“We hope that agreements on these would be reached sooner because Malaysia has been enjoying a preferential tariff on its CPO exports,” she said.
The PTA discussions were only restarted last month. They were expected to be completed last year, but were delayed due to government changes.
