NEW POLICY SET TO BOOST PAKISTAN TRADE WITH MALAYSIA

KUALA LUMPUR, July 30 (Bernama) -- Pakistan's new trade policy for 2009-2010 is expected to deepen and diversify its exports to major trading partners like US and European Union, as well as countries with which it has signed free trade agreements such as Malaysia, China and Sri Lanka.

In a statement here Thursday, Pakistan's High Commission in Malaysia said
the policy, which was unveiled Wednesday, would encompass a provision of
insurance cover for visiting buyers to restore investor confidence.

Its High Commissioner to Malaysia, Lt-Gen (Rtd) Tahir Mahmud Qazi, said
Pakistan would launch various measures to reduce the cost of doing business.

"Among them are a scheme to compensate inland freight cost to traders of
cement, light engineering, leather garments, furniture, soda ash, hyydrogen
peroxide, sanitary wares including tiles, finished marble/granite/onyx
products," he said.

Tahir said to encourage trade with Malaysia, Pakistan has proposed zero
custom duty on import of man-made fibres other than polyester staple fibre,
while custom duty for sizing chemicals would also be withdrawn.

He said to facilitate seafood imports from Pakistan, a grant of 25 percent
freight subsididy would be offered.

Tahir said there was a huge scope for Malaysia and Pakistan to forge
strategic ties to develop halal business.

"In this regard, Pakistan's Ministry of Science and Technology will set up a
Halal Certification Board," he said.

He said until the board was set up, the government would subsidise the cost
of certification by 50 percent.
-- BERNAMA