Pak-Malaysia trade could double in five years
Business council asks both countries to design trade assistance programme.
KARACHI:
Trade volume between Pakistan and Malaysia can double from $2.3 billion to $4.6 billion in the next five years by stepping up dealings in agricultural products and sharing of technological advancements, according to Malaysia-Pakistan Business Council assessments.
The newly established Malaysia-Pakistan Business Council is currently in the midst of charting its agenda and direction in this regard, said Council President Mohammad Saleem in a statement on Monday.
Initial studies revealed that exports to Malaysia could increase by developing new ways in which Malaysian importers, government-sponsored agencies and institutions can get more products like wheat, rice, beef and fruits from Pakistan.
Saleem said the authorities in both countries should design a trade assistance programme, similar to the one between Japan and China. He said that it would be in Pakistan’s interest to take advantage of Malaysia’s expertise in fields such as cold chain maintenance techniques, concentrate and pulp processing and canning fruits.
In order to help Pakistan realise its full agricultural potential, the council believed that Malaysia can bring latest technology.
The council advised the Malaysian government to lobby for reducing import taxes on mangoes, allow import of milk, provide guidance to investors and traders from both countries and organise food and cultural events.
The frozen food sector is another area that Malaysia is interested in. To capitalise on this opportunity, the council believed that Pakistan should encourage companies such as Engro, Nestle, K&N and Shezan to process ready-to-cook or ready-to-eat food items for export.
According to the council members, Malaysia can offer Pakistan, and Karachi in particular, with expertise in construction, building material manufacturing and electrical appliance manufacturing.
Published in The Express Tribune, May 31st, 2011.
Trade volume between Pakistan and Malaysia can double from $2.3 billion to $4.6 billion in the next five years by stepping up dealings in agricultural products and sharing of technological advancements, according to Malaysia-Pakistan Business Council assessments.
The newly established Malaysia-Pakistan Business Council is currently in the midst of charting its agenda and direction in this regard, said Council President Mohammad Saleem in a statement on Monday.
Initial studies revealed that exports to Malaysia could increase by developing new ways in which Malaysian importers, government-sponsored agencies and institutions can get more products like wheat, rice, beef and fruits from Pakistan.
Saleem said the authorities in both countries should design a trade assistance programme, similar to the one between Japan and China. He said that it would be in Pakistan’s interest to take advantage of Malaysia’s expertise in fields such as cold chain maintenance techniques, concentrate and pulp processing and canning fruits.
In order to help Pakistan realise its full agricultural potential, the council believed that Malaysia can bring latest technology.
The council advised the Malaysian government to lobby for reducing import taxes on mangoes, allow import of milk, provide guidance to investors and traders from both countries and organise food and cultural events.
The frozen food sector is another area that Malaysia is interested in. To capitalise on this opportunity, the council believed that Pakistan should encourage companies such as Engro, Nestle, K&N and Shezan to process ready-to-cook or ready-to-eat food items for export.
According to the council members, Malaysia can offer Pakistan, and Karachi in particular, with expertise in construction, building material manufacturing and electrical appliance manufacturing.
Published in The Express Tribune, May 31st, 2011.