LAHORE: Pakistan and Indonesia have signed a landmark memorandum of understanding (MoU) to strengthen collaboration in the development of Small and Medium Enterprises (SMEs) during a ceremony held at the Prime Minister’s House on Tuesday. The agreement was formalised between the Small and Medium Enterprises Development Authority (SMEDA) and SMESCO Indonesia.
According to SMEDA’s Acting CEO Nadia Jehangir Seth, the ceremony was jointly presided over by Prime Minister Shehbaz Sharif and President of Indonesia Prabowo Subianto. The event highlighted the strategic priority both countries attach to SME growth and bilateral economic cooperation.
During the event, Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan exchanged the MoU with Indonesia’s Foreign Minister Sugiono, symbolising the mutual commitment to advancing SME development and internationalisation.
The MoU outlines cooperation in key areas including technology transfer, capacity building, market access, export promotion and joint initiatives centred on innovation and entrepreneurship. It establishes a framework for sharing best practices, enabling SMEs to tap into global value chains and strengthening institutional linkages to enhance trade and investment between the two countries.
PM Sharif described SMEs as the “backbone of economic growth and employment”, adding that collaboration with Indonesia would “open new avenues for Pakistani SMEs, fostering innovation, competitiveness and deeper regional economic integration”.
Haroon Akhtar said the agreement reflected Pakistan’s commitment to SME-led economic advancement. “By partnering with Indonesia, we aim to create sustainable opportunities for SMEs and elevate bilateral trade,” he added.
Nadia Jehangir Seth reaffirmed the authority’s dedication to supporting SME internationalisation through technical assistance, capacity-building programmes and market linkages to ensure Pakistani enterprises fully benefit from emerging cross-border opportunities.
