*KARACHI: Khairul Nazran Abd Rahman, Consul General of Malaysia has urgesPakistani business community not focus only on traditional trade itemslike textile, palm oil etc, but also to diversify their product range,which may include mango, vegetables and other items.*
Speaking in “Appreciation Award 2019” by Pakistan- Malaysia FriendshipAssociation (PMFA) Malaysian Consul General said that, Malaysia willcontinue to cooperate with Pakistan on matters of mutual interest for thebenefit and interest of the two countries and the region. Malaysia andPakistan are good friend and partner, We have been collaborating in thevarious Sectors to increase bilateral trade between both countries.
H.E Khairul Nazran ABD Rahman appreciated important role of PMFA, said thatNo doubt, the major cornerstone of our relations is trade and investment.In 2018, Malaysia’s total trade with Pakistan increased by 2.5 percent toUSD1.47 billion from USD1.34 billion in 2017.
Palm oil remained as Malaysia’s important exports item to Pakistan. In2018, Pakistan imported 1.42 million metric tons’ palm oil and palmproducts from Malaysia worth RM3.27 billion, an increase of 4.19 percent involume from 1.37 million metric tons worth RM3.43 billion in 2017.
This placed Pakistan as the fourth largest importer of Malaysian palm oiland palm products. We definitely intend to engage Pakistan more in thissector. In 2018, among South Asian countries, Pakistan was Malaysia’s 3rdlargest trading partner.
He further said that the FTA is thus far has yet to nurture satisfactoryvolume of trade between our nations. We need to work together. The privatesector, particularly needs to capitalise the immense potential lies withinthe FTA with tariff reduction on various items. I am also optimistic thatthe Pakistan government would consider eliminating the relevant regulatoryduties as adequate tariff were imposed on the relevant items under theMalaysia-Pakistan FTA.
Advisor to Chief Minister Sindh, Pir Noorullah Sahib said that there is along history of cooperation between two countries and great potential forincreasing bilateral trade. Pakistani businessman should explore Malaysia’sgrowing Halal products market and invest in meat and poultry products.
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President, Pakistan Malaysia Friendship Association(PMFA), Shahid JawedQureshi, said that PMFA since its inception in 2005 has been playing asignificant role and contribution towards further consolidating thebilateral relationship between the two brotherly countries of Pakistan andMalaysia in the areas of trade, tourism, education, and health.
The objective of Awards function is to recognize and acknowledge thosePakistani companies, mostly members of PMFA, which are doing businesseswith Malaysia and contributing indirectly towards promoting the bilateraltrade. He told EDOTCO invested 130 million dollars in Pakistani telecomsector and plan to expand their business, will invest 250 million dollarsin next two years.
He further said that, tourism is an emerging area, where Pakistan andMalaysia can explore opportunities and PMFA can play a role in this regardin cooperation with the relevant tourism agencies in both countries. I takethis opportunity to mention here that the Malaysian High Commissioner aswell as Consul General at Karachi are playing a proactive role in promotingthe bilateral relations and PMFA especially thanks to them for joininghands with us to hold this Appreciation Awards ceremony.
Shahid Jawed Qureshi announced that, this awards ceremony will be a regularfeature and the next one will be organised in the year 2020 in which moresectors for awards will be added. PMFA intends to organise a seminar afterEid on ‘Pakistan Malaysia Free Trade Agreement (FTA), as there is a lack ofawareness about FTA in Pakistani businessmen.
