FAISALABAD:Malaysia is trying its optimum best to enhance bilateral trade with Pakistan from $1.8bn to $10bn as according to the World Bank, Pakistan would be included among the top ten economies of the world by 2050, said Mr. Mohammad Azhar Bin Mazlan, High Commissioner of Malaysia in Pakistan.
Addressing the business community in the Faisalabad Chamber of Commerce & Industry (FCCI), he expressed satisfaction over the productive and fruitful bilateral and economic relations between the two countries and said that business communities of Malaysia and Pakistan must collaborate to further enhance the volume of bilateral trade. He said that more than 50,000 Pakistanis are working in Malaysia while the volume of bilateral trade is only $1.8bn. He said that trade wise India is number one, Bangladesh is number two while Pakistan stands third. He said that Malaysia is exporting palm oil, chemicals and electrical items to Pakistan while it is importing some chemicals, fresh fruits and vegetables from Pakistan in addition to textile products. He said that Pakistan has recently organized a mango festival in Kuala Lumpur which would open a new market for this exotic Pakistani fruit delicacy.
He said that Muslim countries, Pakistan and Malaysia must focus on the $3trillion international hilal market. He said that Pakistan could export hilal products to the Middle East and Far East countries. He said that Malaysia is also working proactively on hilal products and it has developed hilal ice-cream and hilal chocolate which are not only popular in Muslim but also in non-Muslim countries. He said that Malaysia is a member of the ASEAN bloc which has a collective GDP of 2.9trillion with a population of 647million. He said that his country is situated in the centre of this bloc and Pakistan could also re-export its surplus to the other ASEAN countries through Malaysia. He said that the population of Kuala Lumpur is only 3 million which is less than Faisalabad. He said that Malaysia is a net importer of food products. “We are importing chicken, egg and beef from Brazil, Australia and New Zealand”, he said and added that very recently a Pakistani company has started exporting beef to Malaysia.
He said that Pakistan could export fruits and vegetables in addition to textile products to Malaysia. He said that after value addition the Pakistani products could also be re-exported to other countries.
He said that a car manufacturing unit is also working in Karachi in collaboration with Malaysia. He said, “We should also explore new avenues for technology transfer and digitalization.” He said that his country was offering tax holiday in some selective sectors including IT. He said that during Covid-19 a number of foreigners including Pakistani students left Malaysia but now they should return back and enjoy the safe Muslim environment of this country. He said that he would try to attract Malaysian investors as Pakistan was a safe and friendly country for foreign investors.
Responding to questions of participants, the high commissioner said that he would extend maximum facilitation to Pakistanis businessmen intending to participate in the International Pepper Community and International Spices Exhibition scheduled to be held from November 6-9 in Sarawak, Malaysia. He said that the prices of food items had jumped to the highest level due to coronavirus and his country could meet immediate food requirements from Pakistan. He also promised that Malaysian investors would participate in projects identified by the Special Investment Facilitation Council (SIFC). He said that Pakistani exporters of fresh fruits and vegetables could use low-cost airline “AirAsia” for the transportation of these commodities. He offered to cooperate with Pakistan in the field of hydroponic and floriculture. The high commissioner also assured to arrange B2B meetings for Pakistani businessmen in Kuala Lumpur.
Earlier, Dr. Khurram Tariq, President FCCI, welcomed the high commissioner and said that Faisalabad was developed by the colonial rulers in 1898 as a “Mandi” town. “It has now emerged as third thickly populated city and the second largest industrial and commercial hub of Pakistan”, he said and added that textile is the mainstay of its economy but other sectors are also playing their role in its overall growth. About FCCI, he said that it has 8300 members who represent 118 sectors and subsectors of the economy. He said that the basic responsibility of the FCCI is business advocacy. He said that FTA between Pakistan and Malaysia was inked in 2007 but both failed to exploit its full potential. He promised to circulate the list of duty-free items allowed under this agreement to give a quantum jump to bilateral trade. Dr. Khurram Tariq also stressed the need for the exchange of cultural delegation on reciprocal basis. He further said that Malaysia has fully regulated economy and Pakistani investors must understand its system before making investment in that country. Senior Vice President Dr. Sajjad Arshad, Vice President Haji Muhammad Aslam Bhalli, Executive Member Muhammad Azhar Chaudhary, Mian Muhammad Tayyab, Sheikh Muhammad Fazil, Rehan Naseem Bhararah and Sarfraz Saleemi participating in the question answer session. Later Dr. Khurram Tariq presented FCCI shield to Malaysian High Commissioner Mr. Mohammad Azhar Bin Mazlan. The High Commissioner also recorded his impressions in the visitor’s book of FCCI.