"The leaders agreed to hold a Joint Negotiations Committee (JNC) meeting as soon as possible to upgrade the existing IP-PTA to a Comprehensive Economic Partnership Agreement (CEPA) by 2027," according to a joint statement by the two leaders at the official residence of the Pakistani PM (PM House), Islamabad, Pakistan, on Tuesday (local time).
The joint statement was delivered during the visit of Indonesian President Prabowo Subianto to Pakistan from December 8-9, 2025, to celebrate the 75th anniversary of diplomatic relations between the two countries this year.
In such joint statement released by the Ministry of Foreign Affairs, Indonesian President Prabowo Subianto and Pakistani Prime Minister Shehbaz Sharif agreed to elevate the partnership to a CEPA through deeper concessions, the removal of non-tariff barriers, and strengthening cooperation to fulfill the true potential of the bilateral agreement.
They also recognized the importance of traditional trade commodities, including agricultural and industrial goods, palm oil, surgical equipment, and pharmaceutical products to bilateral trade, and explored opportunities for increased cooperation in the services, information technology, cybersecurity, and fintech sectors.
In the statement, the two leaders also highlighted the importance of cooperation in the halal food industry and Islamic finance, and stressed the importance of strengthening joint investments to diversify and expand economic cooperation.
They agreed to explore the promotion of investment cooperation in various sectors including and not limited to agriculture, information technology, mining and minerals, tourism, infrastructure, digital infrastructure, connectivity and energy, including through engagement between Pakistan's Special Investment Facilitation Council (SIFC) and Indonesia’s Sovereign Wealth Fund (Danantara).
Recognizing the importance of strengthening defense cooperation, both sides agreed to deepen collaboration through increased high-level military interactions, institutionalizing defense industry cooperation, specialized training programs, and exchanges between military training institutions, in accordance with their respective laws and regulations.
Indonesia appreciated the ongoing defense education and training cooperation between the two countries. The two leaders agreed to explore potential further collaboration in the defense industry, as well as maritime and aviation related trainings.
The two sides reiterated their commitment to working together to address transnational security challenges, including through constructive cooperation in preventing and countering terrorism and violent extremism.
They also agreed to prevent and counter illicit trafficking in narcotic drugs, psychotropic substance, new psychoactive substance and their precursors, in line with international law and the principles of the United Nations Charter.
Related news: Prabowo pushes trade rebalance in first visit to Pakistan
Related news: Prabowo invites PM Shehbaz Sharif to boost Indonesia-Pakistan ties
Translator: Katriana
Editor: M Razi Rahman
Copyright © ANTARA 2025
