MARKET DEVELOPMENT
Pakistan Eyes Exports Of More Than US$150 Million To Malaysia
Pakistan Eyes Exports Of More Than US$150 Million To Malaysia
20/09/2011 (Bernama) -- Pakistan is eyeing to export goods worth more than US$150 million to Malaysia in its current financial year ending June 30, 2012.
The Federal Secretary of Pakistan's Ministry of Commerce, Zafar Mahmod said from his country's viewpoint, the trade with Malaysia is at a satisfactory level.
Malaysia however, continues to record a huge trade surplus, year-on-year.
He said Pakistan has the huge potential of exporting more rice to Malaysia as the country is emerging as one of the top producers globally.
It is also he added, in line with the annual increase in Malaysia's per capita rice consumption.
"Since the implementation of the Free Trade Agreement (FTA) in 2008, bilateral trade has increased steadily. Total trade grew by 133 per cent from RM3.42 billion in 2006 to RM7.99 billion, last year.
"In 2010, Malaysia imported goods from Pakistan worth RM475.9 million compared to RM525.8 million in 2009," he said in an interview with Bernama, recently.
Zafar said Malaysia's exports to Pakistan amounted to RM7.52 billion last year, representing an increase of 31.3 per cent.
"Malaysia is Pakistan's 25th largest export destination and fifth largest source of imports," he added.
For the first six months of this year, total trade between both countries was valued at RM4 billion, a growth of 11.7 per cent from the same period, last year.
He said Pakistan still has the huge trade deficit against Malaysia.
"Malaysia is a big palm oil producer and Pakistan, one of the major consumers of palm oil.
"This, makes it harder for Pakistan to export more, as it is not comparable with the large amount of palm oil flowing into Pakistan," he added.
He said Malaysians should explore Pakistan more in order to discover the variety of services that it has to offer.
The Federal Secretary of Pakistan's Ministry of Commerce, Zafar Mahmod said from his country's viewpoint, the trade with Malaysia is at a satisfactory level.
Malaysia however, continues to record a huge trade surplus, year-on-year.
He said Pakistan has the huge potential of exporting more rice to Malaysia as the country is emerging as one of the top producers globally.
It is also he added, in line with the annual increase in Malaysia's per capita rice consumption.
"Since the implementation of the Free Trade Agreement (FTA) in 2008, bilateral trade has increased steadily. Total trade grew by 133 per cent from RM3.42 billion in 2006 to RM7.99 billion, last year.
"In 2010, Malaysia imported goods from Pakistan worth RM475.9 million compared to RM525.8 million in 2009," he said in an interview with Bernama, recently.
Zafar said Malaysia's exports to Pakistan amounted to RM7.52 billion last year, representing an increase of 31.3 per cent.
"Malaysia is Pakistan's 25th largest export destination and fifth largest source of imports," he added.
For the first six months of this year, total trade between both countries was valued at RM4 billion, a growth of 11.7 per cent from the same period, last year.
He said Pakistan still has the huge trade deficit against Malaysia.
"Malaysia is a big palm oil producer and Pakistan, one of the major consumers of palm oil.
"This, makes it harder for Pakistan to export more, as it is not comparable with the large amount of palm oil flowing into Pakistan," he added.
He said Malaysians should explore Pakistan more in order to discover the variety of services that it has to offer.