PAKISTAN-MALAYSIA TRADE TO INCREASE TO US$10 BLN WITHIN FIVE YEARS

By Samantha Tan Chiew Ting

KUALA LUMPUR, June 24 (Bernama) -- Trade between Pakistan and Malaysia has
the potential to increase to US$10 billion in the next three to five years, said
Pakistan's acting High Commissioner to Malaysia, Dr Imtiaz A.
Kazi.

He said in view of the growing trade volume and the unexplored potentials in
Malaysia-Pakistan free trade agreement (FTA) signed in November 2007, a
bilateral trade of US$10 billion was achievable.

"Total bilateral trade in the first quarter of this year rose by 18.3 per
cent to RM1.93 billion (US$603 million) compared with RM1.61 billion (US$503
million) in the same period last year," he told Bernama on the sidelines of the
7th Malaysia International Halal Showcase 2010 (Mihas 2010) here Thursday.

Dr Kazi said although Malaysia offered 10,000 tariff-free items and Pakistan
5,921 tariff-free items under the tariff reduction schedule spanning 2008-2014,
actual trade was not taking place.

"Now, it is up to the traders and businessmen of both countries to reap full
benefits of FTA to bring about further improvements in trade between the two
countries," he said.

He said Pakistan offered investment opportunities in infrastructure, energy
and financial services sectors.

Dr Kazi said Pakistan has participated in Mihas since 2004.

"This shows its long-term commitment to increase collaboration with
Malaysia, especially in halal sector," he said.

Pakistan has over eight top-ranking companies participating in Mihas 2010.

The companies deal in Basmati rice, raw chicken formed products, fruits,
vegetables, processed vegetables and eating salt.
-- BERNAMA


Attachments:
untitled-[2] 4.6 k [ text/html ] Download | View
Delete & Prev | Delete & Next