JAKARTA, April 29 (Xinhua) -- Trade between Indonesia and Pakistan has grown 7.92 percent over the past five years, with palm oil, textiles, machinery and pharmaceuticals on the list, according to Indonesia's Ministry of Trade.
"I am confident that a strong relationship between Indonesia and Pakistan will continue to grow, benefiting both nations and fostering shared prosperity," said Trade Minister Budi Santoso on Monday evening during an event celebrating 75 years of bilateral relations.
He said that the Preferential Trade Agreement, in effect since 2012, has helped boost bilateral trade from 1.6 billion U.S. dollars to 4 billion dollars by 2024.
Budi emphasized a significant potential for expanding a strategic partnership in such sectors as agriculture, Islamic finance, digital innovation, and sustainable trade.
Currently, the two countries were negotiating to upgrade the agreement, aiming to further promote cooperation and economic growth.
