OIC to play effective role in economic integration of Islamic world: Jailani

Indonesian Deputy Minister for Foreign Affairs, Asia-Pacific and Africa, Abdul Kadir Jailani, said on Thursday that the Organization of Islamic Cooperation (OIC) platform can play an effective role in economic integration as well as economic relations in the Islamic world.

The OIC also promotes political, diplomatic, cultural and economic cooperation among Islamic countries, bringing them closer together.

By increasing economic and trade cooperation, Islamic countries in different parts of the world can provide major opportunities for mutual economy and investment.

He said that Pakistan and Indonesia are the two largest Islamic countries in terms of population with a combined population of 500 million, which constitutes a potential market for economic and trade cooperation and could open new avenues. for bilateral economic cooperation.

The bilateral trade volume between the two countries is 2.6 billion U.S. dollars, which is expected to increase further in the near future, he said.

The Vice Foreign Minister said the two sides are working to strengthen bilateral economic, trade, diplomatic, political and cultural cooperation, and new avenues of cooperation will open up in this regard in the future.

He said that Indonesia could provide Pakistan with opportunities for trade and economic activities in the Association of Southeast Asian Nations (ASEAN) market with a population of 750 million, which which would enhance the growth of trade between the two countries.

Indonesia can be a gateway for Pakistan to ASEAN countries in this regard, he said.

The Deputy Foreign Minister said that ASEAN is currently an emerging economic bloc in the world economically and commercially with free trade agreements and other agreements with various countries, including China and the United States. Asia Pacific, through which Pakistan can reap the benefits via Indonesia.

He said Pakistan and Indonesia already had a preliminary agreement on the Preferential Trade Agreement (PTA), which has boosted bilateral trade in various sectors.

Talks are ongoing between the two parties to promote trade between the two countries, which cannot be ruled out in the future as the Free Trade Agreement (FTA) will be signed between the two countries.

He said that after the signing of the FTA, bilateral trade and economic activities between the two countries will increase.—APP

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