7/11/06 KUALA LUMPUR, Malaysia (AP) -- Malaysia wants Pakistan to cut import duties on motor vehicles and palm oil under a proposed free trade agreement that both sides hope to conclude by the year-end and implement from January, a report said Tuesday.
 
Malaysian Trade Minister Rafidah Aziz was quoted by national news agency Bernama as saying that the two sides have held seven round of negotiations, with the next one to be held in Kuala Lumpur on Nov. 27.

She said in the report that Malaysia has requested for reductions in import duties on motor vehicles and palm oil. Malaysia is the world's largest palm oil producer and has a thriving auto industry.

"We have already exchanged our requests and offer lists," she told Bernama in Islamabad while accompanying Prime Minister Abdullah Ahmad Badawi during his three-day visit there which ended Monday.

"We have identified products of interest to us and so are they. We are now completing whether we can offer what they requested and whether they can accept our requests. Hopefully, there will be some movements."

Pakistan and Malaysian governments agreed Monday to work to boost bilateral trade to US$1 billion (euro786 million) annually from the current US$600 million (euro472 million).

Rafidah told Bernama that Saudi Arabia and Bahrain have also expressed interest to forge free trade pacts with Malaysia.