Govt eyes Malta as gateway to non-traditional markets

Counsellor highlights potential for rice, textiles, cement, fruits in Maltese market

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KARACHI:

The federal government has appointed Zia Noor as Pakistan's Honorary Investment Counsellor in Malta, aiming to increase the country's export footprint in non-traditional markets. As a member state of the European Union, Malta offers significant potential for Pakistani products.

Speaking exclusively to The Express Tribune, Noor said that despite Malta's reliance on imports, Pakistan's share in the market is minimal, with exports valued at just $3.85 million. He added that this figure is expected to grow to $100 million by the end of this year. Noor highlighted the vast potential for Pakistani rice, textiles, sports equipment, cement, fruits and vegetables, carpets, oil seeds, and tiles in the Maltese market.

Noor pointed out that Malta imports much of its rice from Italy, which itself sources the grain from South Asia, including Pakistan. He argued that direct export of Pakistani rice to Malta could reduce costs for Maltese importers, enabling direct agreements between them and Pakistani exporters.

To facilitate this, Noor said a "Pakistan Centre Working Catalyst" has been established in Malta. This platform aims to bridge the gap between Pakistani manufacturers and Maltese entrepreneurs by fostering networking opportunities and creating awareness about respective products and services.

He highlighted that the food and automotive sectors, in particular, present opportunities for joint investments and technology transfers.

Additionally, he noted significant potential for Pakistani surgical equipment manufacturers to establish production units in Malta through joint ventures, thereby earning foreign exchange and boosting bilateral trade.

Noor stressed that mutual trade and investment between Pakistan and Malta are promising, but strategic efforts are required to tap this potential. In response to a question, he mentioned that India has aggressively marketed its products in Malta, achieving $600 million in annual exports. He urged Pakistani policymakers to adopt a similar approach under the 'Uraan Pakistan' programme announced by the prime minister.

"Policymakers need to focus on experienced exporters from sectors like rice, textiles, clothing, and other commodities to strengthen Pakistan's foothold in Malta," Noor concluded.