ISLAMABAD: Malaysia’s High Commissioner in Pakistan, Mohammad Azhar Bin Mazlan, has said that Kuala Lumpur is making efforts to increase its bilateral trade with Pakistan from $1.8 billion to $10 billion.
Addressing the business community at the Faisalabad Chamber of Commerce & Industry (FCCI), Mazlan expressed satisfaction with the productive and fruitful bilateral and economic relations between the two countries. He emphasized the need for collaboration between the business communities of Malaysia and Pakistan to further enhance bilateral trade.
While highlighting the current trade situation, he noted that more than 50,000 Pakistanis are working in Malaysia, yet the volume of bilateral trade remains at $1.8 billion. He pointed out that in terms of trade ranking, India is first, Bangladesh is second, and Pakistan stands third.
Mazlan mentioned that Malaysia exports palm oil, chemicals, and electrical items to Pakistan while importing certain chemicals, fresh fruits, vegetables, and textile products from Pakistan. He also highlighted the success of Pakistan’s recent mango festival in Kuala Lumpur, which has opened new market opportunities for Pakistani mangoes.
Malaysia Eyes on Halal Market
The High Commissioner emphasized the potential of Muslim countries, particularly Pakistan and Malaysia, to focus on the $3 trillion international halal market. He suggested that Pakistan could export halal products to the Middle East and other countries, adding Malaysian halal products like halal ice-cream and halal chocolate, which have gained popularity worldwide.
Mazlan pointed out that Malaysia is part of the ASEAN bloc, with a collective GDP of $2.9 trillion and a population of 647 million. He mentioned that Pakistan could use Malaysia as a gateway to re-export its surplus to other ASEAN countries.
He also highlighted Malaysia’s status as a net importer of food products and welcomed the recent start of beef exports from Pakistan to Malaysia. The envoy encouraged Pakistan to export fruits, vegetables, and textiles to Malaysia and explore value addition and re-export opportunities.
Additionally, he mentioned that a car manufacturing unit is operational in Karachi in collaboration with Malaysia, and both countries should explore new avenues for technology transfer and digitalization.
He assured Pakistani businessmen of maximum facilitation to participate in international events and expressed Malaysia’s willingness to cooperate in various sectors, including hydroponics, floriculture, and low-cost airline services.
Dr. Khurram Tariq, President of FCCI, welcomed the High Commissioner and stressed the importance of expanding bilateral trade. He emphasized the need for Pakistani investors to understand Malaysia’s regulated economy before making investments.
