Malaysian Consul General Herman Hardynata bin Ahmad has said although trade with Pakistan is largely in favour of Malaysia, Pakistan’s share is improving as Kuala Lumpur has increased purchases of rice and frozen food.
“Malaysia’s exports to Pakistan mainly comprise palm oil, but we are unable to completely meet the South Asian nation’s growing demand despite the fact that we have been producing palm oil at peak capacity,” he said at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI). “Malaysia is a small country and in terms of palm oil, our production is limited.”
He expressed keen interest in engaging in maximum number of meetings with the business community of Karachi in a bid to strengthen trade and investment ties. He said both countries had been cooperating with each other not only in trade but also in the area of defence with Malaysia sending its defence officials for training in Pakistan. Also, Pakistani personnel of the armed forces are sent to Malaysia for imparting training.
“Apart from enhancing trade, there are many opportunities in other sectors as well including tourism, capacity building and the likes,” he said.
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Earlier, KCCI President Iftikhar Ahmed Sheikh stressed that both the countries had a strong and diversified bilateral economic relationship in various areas of mutual interest.
“Despite strong brotherly ties, the bilateral trade volume remains below its true potential as Pakistan’s exports to Malaysia currently stand around $300 million, which need to be enhanced to reasonable levels,” he said.
“It is imperative for Pakistan to pursue economic integration with the Association of Southeast Asian Nations (Asean) having collective GDP size of $3.6 trillion.”
Published in The Express Tribune, February 3rd, 2024.
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