Malaysia Wants to Enhance Bilateral Trade with Pakistan
Malaysian Commissioner in Pakistan Ikram bin Muhammad Ibrahim claims that Malaysia wants to enhance bilateral trade with Pakistan
Malaysian Commissioner in Pakistan Ikram bin Muhammad Ibrahim claims that Malaysia wants to enhance bilateral trade with Pakistan as both countries have the potential to trade in a significant number of goods. A meeting was held at the Islamabad Chamber of Commerce and Industry(ICCI), where it was assessed that processed food products had a good scope of penetrating the Malaysian market.
Bilateral trade-up can be seen as being beneficial for both countries, but the lack of better connectivity between the private sectors of Pakistan and Malaysia causes difficulties in boosting trade to reach its full potential. Addressing this issue was the main focus of the meeting.
The Ambassador also laid emphasis on the cruciality of Pakistani manufacturers to focus on highly demanded products in the global market to improve Pakistan’s exports. The private sectors of both countries should benefit from the Pakistan Malaysia Free Trade Agreement(FTA) to improve trade between both countries.
Moreover, ICCI President Sardar Yasir Ilyas Khan claims that both the countries should facilitate their private sectors in promoting a two-way trade as Pak-Malaysia trade did not reflect the potential of either of the country. Pakistani products including rice, mango, wheat, seafood, cutlery, spices, sports goods, handicrafts, surgical equipment, and many more Pakistani products would truly flourish in the Malaysian market.
Finally, Khan also requested the Capital Development Authority(CDA) to develop the Kahuta Industrial Triangle in order to facilitate growth in industry and exports. He prompted the government to focus on developing key issues of the industrial sector and extend resources to develop existing industrial estates in order to boost our country’s industrial activities and exports.
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