MARKET DEVELOPMENT
Make Malaysia Your Gateway To Asean, Envoy Tells Pakistan Businesses
Make Malaysia Your Gateway To Asean, Envoy Tells Pakistan Businesses
07/06/2013 (Bernama) - Pakistan businesses should make Malaysia their central point for market access into Asean and Far East countries, says Consul-General of Malaysia in Karachi, Pakistan, Abu Bakar Mamat.
Pakistan businesses can enjoy trade/distribution of Pakistani products to Asean/Far East countries, as Malaysia is the signatory to the Asean Free Trade Agreement, he was quoted as saying in a report carried by Pakistan daily, 'The Nation'.
Abu Bakar said Pakistan businesses must assume an effective role in capturing their export share to Malaysia.
Malaysia and the consulate would extend cooperation in this regard, he said, adding that a 30-member delegation, comprising Malaysian companies, would visit Pakistan on the juncture of Expo Pakistan 2013 scheduled in September for business to business and, business interactions.
Currently, the balance of trade is in Malaysia's favour.
Malaysia and Pakistan signed a Free Trade Agreement known as Malaysia-Pakistan Closer Economic Partnership Agreement in Jan 2008.
He also said that efforts were underway to establish a trade commission in Pakistan.
At present, the Trade Commission is operating from Mumbai, India.
Abu Bakar also wooed Pakistan businesses to partake in Malaysia's halal food industry.
He said as the 5th largest dairy and milk producer, Pakistani companies could tap the potential in the halal food sector in the form of joint ventures and establish a "Halal Food Authority" in Pakistan.
Abu Bakar also promoted Malaysia as a destination for quality higher education with a low-fee structure.
More than 3,000 Pakistani students were already studying in Malaysia, he said.
Meanwhile, Karachi Chamber of Commerce and Industries' President Muhammad Haroon Agar said Pakistan and Malaysia must find new areas for mutual cooperation to further boost trade and economic ties.
One way of addressing the trade balance was to increase the volume of exports of non-basmati rice, halal food products and frozen seafood to Malaysia given the sizeable demand, he suggested.
Malaysia currently imports such products from neighbouring countries.
There is ample goodwill for expansion of trade and establishment of joint ventures in various industrial sectors including ship breaking, pharmaceuticals, palm oil refining, food processing, sports goods and construction sectors, he said.
Bilateral trade between Pakistan and Malaysia touched US$2.8 billion. Pakistan's export to Malaysia amounted to US$252.89 million while imports stood at around US$1.86 billion.
Pakistan businesses can enjoy trade/distribution of Pakistani products to Asean/Far East countries, as Malaysia is the signatory to the Asean Free Trade Agreement, he was quoted as saying in a report carried by Pakistan daily, 'The Nation'.
Abu Bakar said Pakistan businesses must assume an effective role in capturing their export share to Malaysia.
Malaysia and the consulate would extend cooperation in this regard, he said, adding that a 30-member delegation, comprising Malaysian companies, would visit Pakistan on the juncture of Expo Pakistan 2013 scheduled in September for business to business and, business interactions.
Currently, the balance of trade is in Malaysia's favour.
Malaysia and Pakistan signed a Free Trade Agreement known as Malaysia-Pakistan Closer Economic Partnership Agreement in Jan 2008.
He also said that efforts were underway to establish a trade commission in Pakistan.
At present, the Trade Commission is operating from Mumbai, India.
Abu Bakar also wooed Pakistan businesses to partake in Malaysia's halal food industry.
He said as the 5th largest dairy and milk producer, Pakistani companies could tap the potential in the halal food sector in the form of joint ventures and establish a "Halal Food Authority" in Pakistan.
Abu Bakar also promoted Malaysia as a destination for quality higher education with a low-fee structure.
More than 3,000 Pakistani students were already studying in Malaysia, he said.
Meanwhile, Karachi Chamber of Commerce and Industries' President Muhammad Haroon Agar said Pakistan and Malaysia must find new areas for mutual cooperation to further boost trade and economic ties.
One way of addressing the trade balance was to increase the volume of exports of non-basmati rice, halal food products and frozen seafood to Malaysia given the sizeable demand, he suggested.
Malaysia currently imports such products from neighbouring countries.
There is ample goodwill for expansion of trade and establishment of joint ventures in various industrial sectors including ship breaking, pharmaceuticals, palm oil refining, food processing, sports goods and construction sectors, he said.
Bilateral trade between Pakistan and Malaysia touched US$2.8 billion. Pakistan's export to Malaysia amounted to US$252.89 million while imports stood at around US$1.86 billion.