Malaysia Pakistan Trade Potential $12 Billion, Current $1.8 Billion – Need to Pool Efforts : High Commissioner

ISLAMABAD: Malaysian High Commissioner Mohammad Azhar Bin Mazlan has said that Pakistan and Malaysia enjoy the potential of $12 billion bilateral trade for which both have to work hard and pool efforts. He said that the current trade volume between Pakistan and Malaysia is $1.8 billion, which is less than the mutual trade potential and that Islamabad Chamber of Commerce and Industry can play a significant role in its advancement.

The High Commissioner Mohammad Azhar Bin Mazlan said this while addressing a meeting of Business community in Islamabad Chamber of Commerce and Industry (ICCI) along with Senior Businessmen Zafar Bakhtawri and Zubair Malik.

Azhar Bin Mazlan said that there are many opportunities for development in the halal industry in Malaysia and Pakistan, in which the private sector of both the countries should play their full role by taking tangible steps and that his country is ready for full cooperation with Pakistan to become a regional hub of halal industry.

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He said that the number of Pakistani students in Malaysian universities is 5000 and that Islamic environment is available for Pakistani students in Malaysia, especially the female students who can continue their education there with full religious freedom.

He said that Pakistan is one of the first countries to recognize Malaysia after independence and Malaysia always prioritizes its diplomatic and economic relations with Pakistan. He said that the constitution of Malaysia was written by a Pakistani jurist and from this we can estimate the closeness of the two countries.

The Ambassador said that Pakistan and Malaysia are strategic partners and this partnership is very important in the development and economic prosperity of both the countries.

He further said that Malaysia always welcomes foreign labor and the laborers who have come legally from Pakistan are playing their full role in the economy of Malaysia whose number is 200,000 and they have ample opportunities there.

The Malaysian ambassador said that Malaysia has been working in the telecom sector in Pakistan for a long time and Malaysian companies are investing here.

He said that Pakistan is a potential market of 240 million which can become a major economic and trading power along with ASEAN countries.

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He said that Malaysia can give Pakistan rich trade opportunities in ASEAN countries so that the Pakistani economy can move forward.

Senior businessman and former President FPCCI Zubair Ahmed Malik highlighted the historical economic and trade relations between Pakistan and Malaysia by underscoring the need for frequent exchange of think tanks of both the countries for further the existing relationship.
Secretary General United Business Group Zafar Bakhtawari said that hearts of Pakistani and Malaysian people beat together.

Highlighting the significance of ASEAN States he underlined the need for grant of the status of a full dialogue partner to Pakistan, asserting that direct air links between Pakistan and the ASEAN States will making a big difference in strengthen mutual trade ties. He also floated the idea of Pakistan-ASEAN Trade Conference for the benefit of all the stakeholders.

Highlighting the cordial relationship between the two countries he said that Pakistan and Malaysia are the two Muslim states, who signed the first ever Free Trade Agreement.

Vice President Islamabad Chamber of Commerce and Industry, Engr. Azher ul Islam Zafar said that we look forward to a future of closer collaboration for the shared prosperity and development of both nations, adding that there is a dire need for diversifying trade products and taking other steps to enhance Pakistan’s export to Malaysia, particularly Rice, Fruit, Vegetables, Textile, Garments & Seafood, Medical & Surgical Goods and other Non-traditional Products.

Executive member Ahmed Khan also put forward ideas for consolidating of existing ties between the two brotherly states.

Ch. Maqsood Tabish, Dr. Usman, Malik Naeem Awan, Khalid Ch. Imtiaz Abbasi, Waseem Ch.Sajid Iqbal, Ch. Nawaz Basra were also present on the occasion.

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