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Pakistan and Malaysia focus on trade diversification to improve trade - HC May 05, 2017
 
A 13 member trade mission of Malaysia visited Islamabad Chamber of Commerce and Industry along with H.E. Dr. Hasrul Sani Mujtabar, High Commissioner of Malaysia. Mr. Tunku Rizal was leading the delegation. The delegation was representing various sectors including hydropower generation, construction, manufacturing, water filtration technology, cosmetics, sea food etc.
 
Speaking at the occasion, H.E. Dr. Hasrul Sani Mujtabar, High Commissioner of Malaysia said that Pakistan and Malaysia were the first two Islamic countries that had signed FTA long time ago, but the bilateral trade was still confined to few products. He said there was an urgent need to focus on diversification of trade for improving trade figure. He said both countries have good relations in education and defense fields as over 5000 Pakistani students were studying in Malaysia while Malaysia used to send its military officers to Pakistan for training. However, he said it was high time that both countries should intensify efforts for improving two-way trade that would bring far better results for their economies. He said Pakistan should further streamline its visa policy for Malaysian businessmen so that they could easily visit Pakistan for exploring new business opportunities.
 
Mr. Tunku Rizal, Head of Malaysian delegation said that Pakistan and Malaysia have good potential to enhance cooperation in many fields and both countries should encourage frequent exchange of trade delegations to explore all untapped areas of potential cooperation. He said Malaysia could help Pakistan in hydropower generation, designing and construction of industrial parks, hotels, tourism and other sectors.  He hoped that visit of Malaysian delegation to Pakistan would lead to finalization of some business deals between the private sectors of both countries.
 
In his welcome address, Khalid Iqbal Malik, President, Islamabad Chamber of Commerce and Industry said that Pak-Malaysia FTA signed in 2007 has not achieved the desired results as yet He said the main reason of low trade volume was that both countries were doing trade in few items. He stressed that both should focus on new products to improve two-way trade. He said many Pakistani products including non-basmati rice, wheat, mangoes, halal food, seafood, meat products, cutlery & sports goods, spices, handicrafts, light engineering goods, hospital & surgical equipment, pharmaceuticals and gems & jewelry could find good market in Malaysia.  
 
He said many sectors of Pakistan’s economy including palm oil cultivation & refining, construction of low cost housing schemes and highways, livestock & dairy, energy, education, transportation, IT, shipbreaking, food processing, sports goods and Halal industry offered good potential to Malaysian investors. He urged that more Malaysian investors should visit Pakistan to explore investment and joint ventures in CPEC projects and other areas of interest.  Khalid Malik Senior Vice President ICCI, Tahir Ayub Vice President ICCI, Tariq Sadiq, Zafar Bakhtawari, Zahid Maqbool and others also spoke at the occasion.
 
 
 
 
   
 
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