Governor for tapping opportunities in ASEAN

Stresses need to improve halal standards to carve place in global market

LAHORE:

Punjab Governor Muhammad Balighur Rehman has underlined that Pakistan should work hard to explore its hidden potential with a proactive approach to capitalise on the opportunities arising in and around its neighbouring countries.

Speaking at a conference titled “Investment and economic gains, a trade and tourism conference on Asean” at the Lahore Chamber of Commerce and Industry (LCCI) on Monday, Rehman stressed, “There are many opportunities for businessmen in Asean, we now have to target our untapped export potential and the import potential of Asean (Association of Southeast Asian Nations).”

He underscored the need for Pakistan to improve its halal standards to carve a place for itself in the global halal market, adding that all institutions and the government were ready to facilitate investors.

Acknowledging the extraordinary circumstances the country was in, the governor pointed out that the rupee was depreciating and the economy was slowing down.

Earlier, he said, Pakistan was going to default in 2022, but the nation came out of that situation and “now we are moving towards new opportunities”.

Regarding tourism, the governor emphasised that Pakistan had a lot of potential but investment was required in infrastructure, hospitality, hotels and restaurants to capitalise on its benefits.

Speaking on the occasion, Malaysian High Commissioner Mohammad Azhar Mazlan highlighted the excellent relations with Pakistan, saying that more than one lakh Pakistanis were living in Malaysia and 5,000 Pakistani students were also studying there.

He invited more Pakistanis to study in Malaysia as human resources were the key to development. He said that trade between Malaysia and Pakistan was worth $1.8 billion and the balance was slightly in favour of Malaysia because of palm oil and chemical product exports to Pakistan.

Mazlan called Pakistan a country full of opportunities with excellent human resources. “It has sea, rivers, ports and its geographical position is ideal.”

He observed a lot of potential in the halal industry with handsome demand for products ranging from cosmetics to pharmaceuticals.

Published in The Express Tribune, September 5^th, 2023.

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