Stress laid on boosting Pak-Malaysia trade

Ambassador to Malaysia stressed on multiplying existing trade between the two countries.

LAHORE: A little focused attention can help multiply existing bilateral trade between Pakistan and Malaysia that is only worth $2 billion, stated the Ambassador-designate to Malaysia, Masood Khalid.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday, Khalid said that despite having an operational Free Trade Agreement (FTA) with Malaysia for the last two years, Pakistani businessmen have not yet properly exploited it which is very unfortunate.

Malaysia offers great opportunities to Pakistani businessmen in different areas like Halal food, rice, construction, energy, fruits and veterinary sciences, he added.

He said that out of the $2 billion bilateral trade, exports from Pakistan were worth only $200 million while imports were $1.8 billion.

The ambassador said that the government is striving to attain the Full Dialogue Partner status in the Asean group as at present it has the status of Sectoral Dialogue Partner. As soon as Pakistan wins the status of Full Dialogue Partner, it would not only be adding to its political profile but its economic image would also go up, he added.

Meeting at KCCI

Earlier, in a related meeting with office-bearers of the Karachi Chamber of Commerce and Industry (KCCI), Khalid underscored the need of better trade relations which will actually lead to enhanced political relationship.

He focused on cultural diplomacy and role of private sector for removing the negative perception of Pakistan abroad and called for highlighting success stories and strengths of the nation, which cannot be accomplished without the help of private sector.

Published in The Express Tribune, August 5^th, 2010.