PAKISTAN WANTS EARLY CONVENING OF PAKISTAN-MALAYSIA JOINT MINISTERIAL COMMISSION

KUALA LUMPUR, May 21 (Bernama) -- Pakistan hopes to see the early convening of
the fourth session of Pakistan-Malaysia Joint Ministerial Commission to discuss
ways to improve bilateral trade and investment.

Pakistan's Minister for Privatisation, Senator Waqar Ahmad Khan, said the move
was also to tap full economic and trade potential existing between the two
countries.

Waqar expressed the intention of the Pakistan side during his meeting with
Malaysia's Minister for International Trade and Industry Mustapha Mohammad
Thursday on the sidelines of the World Islamic Economic Forum.

In a statement, the Pakistan High Commission in Kuala Lumpur said Waqar also
expressed satisfaction on the soon-to-be launched Malaysian chapter of the
Pakistan-Malaysia Joint Business Council (JBC) which is expected to be announced
early next month.

The council, whose Pakistan chapter has already been formed, will provide a
formal platform to the private sectors of both the countries to interact with
each other on regular basis for business networking, identifying areas of common
interest and interact to explore investment opportunities to the mutual
advantage of the two countries.

The high commission said that during his one-hour meeting with Mustapa, Waqar
also suggested convening of a conference of chief executive officers of leading
companies of the two countries to jointly explore and identify areas of
cooperation, including possible joint ventures in areas such as halal food
industry, milk and milk-based products, power and energy sector, alternate
energy generation.

According to Wagar, Pakistan has vast reserves of coal in Sindh which can be
gasified to produce energy.

Other areas of cooperation include wind and hydro-power, exploration and
development of coal, gas and petroleum reserves and Islamic banking, he said.

Waqar also suggested the formation of a Pakistan-Malaysia joint investment
company with matching funds.

Pakistan, he said, had witnessed benefits from such an experience with countries
like Saudi Arabia, Oman, Kuwait, Libya, China and the United Arab Emirates.

The High Commission said Mustapa noted the suggestions and asked to be furnished
with more details.

While in Malaysia, Waqar also met with the members of pro-tem committee of the
Malaysian chapter of JBC and urged them to play a meaningful role to promote
business, trade and investment between the two countries.

He also interacted with local and international media.
-- BERNAMA