FPCCI delegation met with Malaysian Consul General in Islamabad. Imbalance of trade between Pakistan and Malaysia discussed.
ISLAMABAD, PAKISTAN: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) urge Pakistan and Malaysia to promote trade with Malaysia other than agricultural products.
In a meeting with Malaysian Consul General Muhammad Ismail Bkrihere on Friday, Abdul Rahim Janoo, Senior Vice President FPCCI urged that Pakistan and Malaysia should promote trade with Malaysia other than agricultural products. The meeting was also attend by Shahnawaz Istiaq, Waseem Vohra, Shahab Zafar, Vice Presidents FPCCI, Waheed Shah, Nasiruddin Sheikh and large number of importers and exporters.
While discussing the potential of trade between Pakistan and Malaysia, Rahim janoo indicated imbalance of trade between Pakistan and Malaysia and stated that Pakistan remain US $ 1.2 billion while exports of Pakistan to Malaysian stands just at US $ 233 million
He said:
“Pakistan imports Plam Oil, electrical and electronic equipments, machinery chemicals, rubber, wood synthetic filament yarn, insecticides, automatic data processing machines and parts and accessories from Malaysia while Malaysian exports to Pakistan remain US $ 1.2 billion while exports of Pakistan to Malaysian stands at US $ 233 million”.
He said that the balance of trade is mostly in favour of Malaysia and informed that now the export of Pakistani maize, corn also started to Malaysia which significant sign.
Rahim Janoo also proposed that Malaysian airlines should resume flight operation from Pakistan as many Pakistani people prefer to visit Malaysia on tourism.
He drew the attention of the Malaysian Consul General towards imposition of export duty Malaysian government which resulted decline in the import of crude palm oil from Malaysia.
He said that the export duty should be abolished. The Consul General of Malaysia Muhammad Ismail said that Malaysia was always ready to share its experience in every field with fellow Muslim countries specially Pakistan.
He said that in past we had some security concern but now the law and order position is very much improved.
He said that the stoppage of flight operation by Malaysian Airlines in Pakistan was due to the reason of security concern. He assured the participants that he would take up the matter with the airline and expressed his hope that Malaysian Airline will consider it.
While discussing the FTA between Pakistan and Malaysia, he informed that efforts are being done on both side for Free Trade Agreement. He further said that Pakistan was a potential country and viable in terms of joint of joint ventures, investments and trade and economic activates.
