Karachi: The Pakistan Vanaspati Manufacturers Association (PVMA) has announced a significant cooperation agreement with the Indonesian Palm Oil Association (GAPKI) aimed at strengthening trade ties in the palm oil sector. Sheikh Umer Rehan, Chairman of PVMA, highlighted the agreement as a pivotal development for Pakistan's vanaspati and cooking oil industry, promising improved trade terms and long-term industry stability.

The memorandum of understanding (MoU) aims to ensure a stable supply of palm oil, foster information sharing, and develop new avenues of collaboration between the private sectors of both nations. Indonesia, a key trading partner for Pakistan in palm oil, is expected to play a crucial role in this bilateral trade enhancement.

Sheikh Umer Rehan emphasized that this international cooperation is vital for safeguarding the local industry, ensuring the timely availability of raw materials, and maintaining price stability. He acknowledged the Pakistani government's support in promoting trade diplomacy, noting the presence of Federal Minister for Commerce Jam Kamal Khan at the signing ceremony as a testament to the government's commitment to industrial growth.

The agreement, signed by PVMA Chairman Sheikh Umer Rehan and GAPKI Chairman Mr. Eddy Martono, was attended by senior officials from both countries, including Indonesia's Deputy Minister of Trade Mrs. Dyah Roro Esti. The MoU is expected to lay a strong foundation for future trade relations between Pakistan and Indonesia, opening new opportunities for collaboration and contributing positively to the national economy and food industry.