KUALA LUMPUR, Oct 3 (Bernama) -- Industry players in the digital and information and communication technology (ICT) sectors should view Pakistan as a market with significant growth potential for their expertise and innovative products.
The University of Islamic Sciences Malaysia (USIM) Senior Lecturer at the Faculty of Economics and Business, Dr Umi Hamidaton Mohd Soffian Lee, highlighted that Pakistan, with its population of 250 million, presents Malaysia with a valuable opportunity to expand into its digital and technology markets.
She noted that Malaysia’s position as a leading ICT hub in Southeast Asia, supported by its developed ecosystem, provides a competitive edge in exploring the Pakistani market.
This could also contribute to the development of Pakistan’s ICT industry.
"Pakistan represents a substantial opportunity for us to pioneer and market our technology through the deployment of skilled labour, particularly in digital applications, e-commerce, and ICT infrastructure.
"Our tech companies can introduce innovations through agreements already in place, allowing us to expand our market presence in Pakistan," she said during Bernama TV’s "Malaysia Petang Ini" programme on Wednesday.
Dr Umi hopes the strategic partnership agreement between Malaysia and Pakistan, established in 2019, will be fully leveraged to enhance diplomatic and economic ties between the two nations.
She expressed optimism that Prime Minister Datuk Seri Anwar Ibrahim’s current three-day state visit to Pakistan, which began yesterday, will strengthen cooperation in this field.
"I see this visit as an opportunity to open further and expand our collaboration with Pakistan," she said.
Bilateral cooperation between Malaysia and Pakistan also extends to areas such as smart agriculture, renewable energy, and the halal industry, in addition to addressing global challenges like climate change and population growth.
Malaysia and Pakistan have been strategic partners since 2019, with Pakistan serving as Malaysia’s third-largest export destination in South Asia since 2016.
The two countries signed the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) in 2008, which covers trade in goods, investment, and technical cooperation.
In 2023, the trade value between the two countries reached RM6.43 billion, with Malaysia’s exports amounting to RM4.39 billion and imports from Pakistan at RM2.04 billion.
For the first seven months of this year, the trade value has already reached RM5.10 billion.
-- BERNAMA
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