09:52 | 10/01/2014 Global Economy
Indonesia, the world's largest palm oil exporter, witnessed a rapid 55 percent rise in shipments of the commodity to Pakistan by the end of October last year, a Trade Ministry official has announced.
The two countries signed a deal on a preferential tariff agreement (PTA) last September as a way to boost trade between the two countries.
Under the PTA, Indonesia's palm oil can enter Pakistan with zero import tariffs, said Gatot Prasetyo, director for national export development of Indonesia ’s Trade Ministry.
As a result, total Indonesia’s palm oil exports nearly doubled in the first 10 months of last year compared with the same period of 2012, from 127 billion US dollars to 213 billion dollars, the director said.
Indonesia is endeavoring to introduce eco-friendly measures in palm oil cultivation./.