Wednesday , July 15 2020
Breaking News
Home / Chambers & Associations / Pakistani traders not focus only on traditional items, also diversify products range: Malaysian CG
Pakistani traders not focus only on traditional items, also diversify products range: Malaysian CG

Pakistani traders not focus only on traditional items, also diversify products range: Malaysian CG

KARACHI:  H.E Khairul Nazran ABD Rahman, Consul General of Malaysia in Karachi urges Pakistani Business Community not focus  only on traditional trade items like textile, palm oil etc, but also to diversify  their product range ,which may include mango, vegetables and other items. Speaking in “Appreciation Award 2019” by Pakistan- Malaysia Friendship Association(PMFA). Consul General presented Awards on Best Trade with Malaysia to EDOTCO Pakistan, Sunlight Wood products, Mapak Edible oils, Progressive Traders , Pacific Commodities, Paspida, Oasis Travel, Greenland Travel & Tours. Shahid Jawed Qureshi, president, Pakistan Malaysia Friendship Association. Director EDOTCO Rehan Farooqi, Director, Sunlight Wood products Hassan Jaffrani,Senator Abdul Haseeb Khan and Khalid Tawab were also attend the event.

Malaysian Consul General said that, Malaysia will continue to cooperate with Pakistan on matters of mutual interest for the benefit and interest of the two countries and the region. Malaysia and Pakistan are good friend and partner, We have been collaborating in the various Sectors to increase bilateral trade between both countries.

H.E Khairul Nazran ABD Rahman appreciated important role of PMFA, said that No doubt, the major cornerstone of our relations is trade and investment. In 2018, Malaysia’s total trade with Pakistan increased by 2.5% to USD1.47 billion from USD1.34 billion in 2017. Palm oil remained as Malaysia’s important exports item to Pakistan. In 2018, Pakistan imported 1.42 million metric tons’ palm oil and palm products from Malaysia worth RM3.27 billion, an increase of 4.19% in volume from 1.37 million metric tons worth RM3.43 billion in 2017. This placed Pakistan as the fourth largest importer of Malaysian palm oil and palm products. We definitely intend to engage Pakistan more in this sector. In 2018, among South Asian countries, Pakistan was Malaysia’s 3rd largest trading partner.

He further Said that the FTA is thus far has yet to nurture satisfactory volume of trade between our nations. We need to work together. The private sector, particularly needs to capitalize the immense potential lies within the FTA with tariff reduction on various items. I am also optimistic that the Pakistani Government would consider eliminating the relevant Regulatory Duties as adequate tariff were imposed on the relevant items under the Malaysia-Pakistan FTA.

Advisor to Chief Minister Sindh, Pir Noorullah Sahib Said that There is a long history of cooperation between two countries and great potential for increasing bilateral trade. Pakistani businessman should explore Malaysia’s growing Halal products market and invest in meat and poultry products.