How Indian ban on Malaysia is a big opportunity for Pakistan?
RAWALPINDI - The Rawalpindi Chamber of Commerce and Industry (RCCI) has asked government to issue special quota on import of Palm oil from Malaysia in preview of recent steps taken by India companies to curtail the import of palm oil from Malaysia. RCCI President, Saboor Malik said in a statement that the business community and people of Pakistan lauded the speech of Mahateer Muhammad, Prime Minister of Malaysia at UN annual summit. “The Indian move comes out following the support and categorical stance by Malaysia on Kashmir issue at the United Nations”, he said. Saboor said that the Indian's ban on import of palm oil from Malaysia provided us a great opportunity and window to fill the gap,adding the low tariff import of Palm oil would help local vegetable and soap industry, he added. The RCCI chief deplored on Indian act for using trade as a tool to black mail other country and also urged world community to take notice in the light of free and fair trade agreements between the countries. Despite political, security and economic challenges, many international food chains have opened food chains in Pakistan and palm oil is being used by most of the fast food industry, he added. He said that Malaysia and Pakistan had a very long-standing palm oil trade relationship and stressed that both the countries should focus on new products and diversification to improve two-way trade.