Malaysia, Pakistan Leaders Commit To Enhancing Trade And Commerce - Anwar

From Mohd Haikal Mohd Isa

ISLAMABAD, Oct 3 (Bernama) -- There is a clear commitment from the leadership of Malaysia and Pakistan to resolve any issues that could impede the flourishing trade and commerce between the two countries, said Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at a business dialogue event attended by Pakistani Prime Minister Shehbaz Sharif, Anwar noted that the commitment to enhance trade ties between Kuala Lumpur and Islamabad is currently at the highest level within both governments.

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“What’s important is that, in any investment portfolio, the policies are clear, and there is commitment and leadership. Regarding the other problems, the commitment is to try to resolve it, and this commitment is at the highest level of government,” he said during the business dialogue here today, which was also attended by representatives from both Malaysian and Pakistani companies.

Among those present at the event were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Pakistan’s Commerce Minister Jam Kamal Khan.

The Prime Minister acknowledged that Pakistan excels in certain areas, particularly in traditional sciences and has a longer history of industrial and scientific development compared to Malaysia, which is still emerging in these fields. 

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Conversely, he highlighted that Malaysia is regarded as a regional hub for the semiconductor industry.

Anwar identified several areas for potential collaboration between Kuala Lumpur and Islamabad, specifically in the halal meat and halal industry, rice production and expanding flight routes to boost tourism between the two nations.

He also announced that the Malaysia External Trade Development Corporation (MATRADE) will open an office in Karachi, Pakistan, next month, underscoring Malaysia's commitment to enhancing bilateral trade.

In 2023, trade between Malaysia and Pakistan was valued at RM6.43 billion, with Malaysia exporting RM4.39 billion in goods to Pakistan and importing RM2.04 billion, resulting in a trade surplus of RM2.34 billion in Malaysia's favour, according to the Malaysian High Commission in Pakistan.

For the first seven months of this year, trade between the two countries totalled RM5.10 billion.

Both countries signed the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) in 2008, which covers trade in goods, investments and technical cooperation.

-- BERNAMA