MARKET DEVELOPMENT
FPCCI Reviews Pakistan-Malaysia Bilateral Trade
FPCCI Reviews Pakistan-Malaysia Bilateral Trade
27/04/2015 (Business Recorder) - A Meeting of the Board of Directors Pak-Malaysia Business Council of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) was held on 23rd April, 2015 at Federation House, which was chaired by M. Bashir Janmohammed, Chairman of the Council and was attended, on special invitation, by S. M. Muneer, Chief Executive Trade Development Authority of Pakistan (TDAP).
The Meeting was also attended by Rahim Janoo, Senior Vice President, FPCCI, Zubair Tufail and Akram Rajput, former Vice Presidents of the Federation besides Syed Nasir Ali Mirza, Asst. Secretary General, FPCCI and notable businessmen/members of the Council. The position of bilateral trade between Pakistan and Malaysia was reviewed in detail. The problems being faced by Pakistani exporters and the ways and means to resolve them were deliberated. It was decided that in order to overcome the imbalance in trade between Pakistan and Malaysia, exports from Pakistan to Malaysia, particularly of non-traditional items besides traditional items, needs to be promoted.
It was particularly noted that Malaysian's quota for export of Rice from Pakistan should be increased, to a minimum of 200,000 Tons per annum, since Malaysian annual requirements of Rice is about one Million Tons. It was decided to take up the matter at higher level with Malaysian Government through TDAP and Ministry of Commerce. The Council noted that there were certain issues regarding Free Trade Agreement (FTA) with Malaysia about Duties and permits, which need to be resolved. It was therefore decided to seek suggestions from the business community for removal of anomalies and problems in context with FTA, in a fortnight's time, for take up the matter with the Government.
The Council noted that big hindrance for exports of Fruits, particularly Mangoes and perishable Vegetables to Malaysia in commercial quantities is non-availability of adequate air flights directly to Malaysia and there was need to increase frequency of PIA flights to Kuala Lumpur, to overcome exporters difficulties, due to limited air freight/space.
The Council further noted that one of the major constraint in import of Crude Palm Oil (CPO) from Malaysia is the imposition of Export Duty on CPO by Malaysian Government, as a result of which, the volume of imports of Palm Oil products in the current year from Malaysia has come down to about 27% and the remaining 73% import is being made from Indonesia. The Chairman, Pak-Malaysia Business Council had already put in his best efforts for elimination of Malaysian Export Duty.-PR
The Meeting was also attended by Rahim Janoo, Senior Vice President, FPCCI, Zubair Tufail and Akram Rajput, former Vice Presidents of the Federation besides Syed Nasir Ali Mirza, Asst. Secretary General, FPCCI and notable businessmen/members of the Council. The position of bilateral trade between Pakistan and Malaysia was reviewed in detail. The problems being faced by Pakistani exporters and the ways and means to resolve them were deliberated. It was decided that in order to overcome the imbalance in trade between Pakistan and Malaysia, exports from Pakistan to Malaysia, particularly of non-traditional items besides traditional items, needs to be promoted.
It was particularly noted that Malaysian's quota for export of Rice from Pakistan should be increased, to a minimum of 200,000 Tons per annum, since Malaysian annual requirements of Rice is about one Million Tons. It was decided to take up the matter at higher level with Malaysian Government through TDAP and Ministry of Commerce. The Council noted that there were certain issues regarding Free Trade Agreement (FTA) with Malaysia about Duties and permits, which need to be resolved. It was therefore decided to seek suggestions from the business community for removal of anomalies and problems in context with FTA, in a fortnight's time, for take up the matter with the Government.
The Council noted that big hindrance for exports of Fruits, particularly Mangoes and perishable Vegetables to Malaysia in commercial quantities is non-availability of adequate air flights directly to Malaysia and there was need to increase frequency of PIA flights to Kuala Lumpur, to overcome exporters difficulties, due to limited air freight/space.
The Council further noted that one of the major constraint in import of Crude Palm Oil (CPO) from Malaysia is the imposition of Export Duty on CPO by Malaysian Government, as a result of which, the volume of imports of Palm Oil products in the current year from Malaysia has come down to about 27% and the remaining 73% import is being made from Indonesia. The Chairman, Pak-Malaysia Business Council had already put in his best efforts for elimination of Malaysian Export Duty.-PR