RAWALPINDI:
Pakistan has offered Malaysia to join CPEC projects and progress in thisregard is likely to be made during the upcoming visit of the Malaysian PMMahathir Mohamad to Pakistan.
Malaysia High Commissioner has expressed desire to make investments inPakistan and Islamabad has offered the CPEC projects as good opportunityfor investment in Pakistan.There is a need to intensify efforts for improving two-way trade betweenPakistan and Malaysia, which will bring far better results for theireconomies, said Malaysian High Commissioner Ikram bin Muhammad Ibrahim.
Addressing members of the Rawalpindi Chamber of Commerce and Industry(RCCI) on Wednesday, he said both countries had the potential to enhancecooperation in many fields including halal food, tourism, telecommunicationand renewable energy.
“We should encourage frequent exchange of trade delegations in order toexplore all untapped areas of potential cooperation.”He shared that theMalaysian High Commission had been working closely with the government ofPakistan for the upcoming visit of Malaysian Prime Minister MahathirMohamad. “We are anticipating the signing of several agreements during hisstay in Islamabad,” he said.-
The envoy said Pakistan and Malaysia were the first two Islamic countrieswhich signed a free trade agreement (FTA) long time ago, but bilateraltrade was still restricted to a few products. He underlined the urgent needfor focusing on trade diversification for improving trade figures.
Read Top Stories
The high commissioner also emphasised the need for increasing networkingand exchange of delegations.
Speaking on the occasion, RCCI President Malik Shahid Saleem said Pakistanand Malaysia signed the FTA in 2007, but it had so far failed to achievethe desired results despite potential. He stressed that both countriesshould focus on new products to improve two-way trade. “The China-PakistanEconomic Corridor (CPEC) is an emerging opportunity and this gives moreoptions to tap growing opportunities in Pakistan.”
He asked the high commissioner to share details of the trade delegationswhich would be accompanying the Malaysian prime minister so that B2Bmeetings for possible joint ventures could be arranged.
