Lahore: There is a vast scope of joint ventures between Indonesia and Pakistan in the SME sector.
It was stated by H.E Mr. Burhan Muhammad, Ambassador of the Republic of Indonesia at a meeting with Mr. Alamgir Chaudhry, Acting Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA) today at SMEDA head office. The Ambassador was accompanied by his secretary Mr. Otto Rakhim Gani. Whereas, from SMEDA Ms. Nadia Jahangir Seth, Head Policy and Planning Division, Mr. Sheharyar Tahir, head External Relations Department and Mr. Liaqat Ali Gohar, Deputy General Manager Administration and Public Relations were also present on this occasion.
The Ambassador told that his government was keen to strengthen bilateral economic relations with Pakistan on preferential ground, especially in the SME sector. He stressed to hold frequent interactions between SME sectors of the two countries and also emphasized to increase business interactions through frequent exchange of trade delegations. He assured to extend all possible cooperation of his embassy to tap joint venture opportunities in SME sector of Indonesia and Pakistan.
Earlier, Mr. Alamgir Chaudhry, Acting CEO of SMEDA extended warm reception to the Ambassador and gave him a briefing on SMEDA’s role in SME development of Pakistan. He informed that SMEDA had conducted a fresh value-chain-analysis of 13 potential sectors including Food, Agriculture, Logistic, Construction, Engineering, Energy, Leather, Mineral, Tourism, Information Technology and Textile, which have more significance for investment and joint ventures between the two countries. He informed that the aforementioned sectors were also part of SMEDA’S current five year SME development plan.
He said that the SME development plan was developed through rapid consultative process with over 800 stakeholders. The Plan has, so far, been shared with various Ministries of the Federal Government, The Planning Commission of Pakistan, the Provincial Governments, State Bank of Pakistan, a number of international development partners, Chambers of Commerce & Industry, and the media at large, he said.
Responding to an observation of the Ambassador regarding engineering sector, SMEDA Acting Chief informed that 50% of the world exports belong to light engineering sector. But Pakistan’s share is merely up to 1 % so far, which has the huge potential to get increased.