MARKET DEVELOPMENT
Pakistan Seeks More Investments From Malaysia
Pakistan Seeks More Investments From Malaysia
12/06/2013 (Bernama) - Pakistan is seeking more investments from Malaysia in various sectors, including halal food and refineries, says Mumbai-based Trade Consul Noraslan Hadi Abdul Kadir.
He said Pakistan businesses were open to joint ventures, especially for refineries.
"They import a lot of palm oil and there is a huge demand for refinery business and Pakistan wants to tap Malaysia's expertise," he told Bernama today.
Pakistan's edible oil consumption is about 3.2 million tonnes annually, of which, palm oil accounted for 65 per cent or between 2 and 2.1 million tonnes.
Last year, Malaysian palm oil met 73 per cent of Pakistan's edible oil requirements while in the first five months this year, it dropped to 60 per cent.
Other areas of interest are in the pharmaceutical, medical tourism and Islamic banking industries, Noraslan said.
As for medical tourism, Pakistan is hopeful Malaysian companies would invest aggressively as there was a huge demand for it, said Noraslan.
Against this backdrop, he said a 30 member delegation comprising Malaysian companies would participate in Expo Pakistan 2013 in September.
"I have also invited them to partake in Intrade Malaysia 2013 to be held in November," Noraslan said.
Intrade, he said would give them the opportunity to explore areas of potential for export.
"Currently, the trade imbalance, which is in Malaysia's favour, is of concern to them. They want to increase their exports to Malaysia and Intrade is a good platform to get potential customers or clients," he said.
Bilaterial trade stood at US$2.1 billion last year.
Exports amounted to a whooping US$1.83 billion while imports stood at only US$250 million.
Malaysia's major exports to Pakistan are palm oil, chemical and chemical products, electrical and electronic products, machinery, appliances and parts, as well as, textiles and clothing.
Malaysia mainly imports cereal, textiles and clothing, seafood (fresh, chilled and frozen), refined petroleum products and, chemical and chemicals products.
Pakistan is strong in agriculture, such as basmati rice, mango and seafood.
"I see more potential in expanding seafood exports," Noraslan added.
He said Pakistan businesses were open to joint ventures, especially for refineries.
"They import a lot of palm oil and there is a huge demand for refinery business and Pakistan wants to tap Malaysia's expertise," he told Bernama today.
Pakistan's edible oil consumption is about 3.2 million tonnes annually, of which, palm oil accounted for 65 per cent or between 2 and 2.1 million tonnes.
Last year, Malaysian palm oil met 73 per cent of Pakistan's edible oil requirements while in the first five months this year, it dropped to 60 per cent.
Other areas of interest are in the pharmaceutical, medical tourism and Islamic banking industries, Noraslan said.
As for medical tourism, Pakistan is hopeful Malaysian companies would invest aggressively as there was a huge demand for it, said Noraslan.
Against this backdrop, he said a 30 member delegation comprising Malaysian companies would participate in Expo Pakistan 2013 in September.
"I have also invited them to partake in Intrade Malaysia 2013 to be held in November," Noraslan said.
Intrade, he said would give them the opportunity to explore areas of potential for export.
"Currently, the trade imbalance, which is in Malaysia's favour, is of concern to them. They want to increase their exports to Malaysia and Intrade is a good platform to get potential customers or clients," he said.
Bilaterial trade stood at US$2.1 billion last year.
Exports amounted to a whooping US$1.83 billion while imports stood at only US$250 million.
Malaysia's major exports to Pakistan are palm oil, chemical and chemical products, electrical and electronic products, machinery, appliances and parts, as well as, textiles and clothing.
Malaysia mainly imports cereal, textiles and clothing, seafood (fresh, chilled and frozen), refined petroleum products and, chemical and chemicals products.
Pakistan is strong in agriculture, such as basmati rice, mango and seafood.
"I see more potential in expanding seafood exports," Noraslan added.