‘Pak-Malaysia trade up by 35% after FTA’
Staff Report
KARACHI: Malaysia and Pakistan recorded 25 and 10 percent increase in bilateral trade in 2010 and 2011 respectively.
Consul General of Malaysia, Abu Bakar Mamat said positive growth was subsequent to the signing of FTA (free trade agreement) between the two countries in 2007.
He said there was a need to create awareness among the manufacturers on the liberalisation of trade in goods and services and the elimination of tariff on their respective products.
At Korangi Association of Trade and Industry (KATI) on Wednesday Malaysian diplomat said a Malaysian company would start the upgrading work of M-9 dual carriageway from Karachi to Hyderabad and the work was expected to start very soon.
Malaysia Airlines’ decision to cease operation in Pakistan earlier this year, was part of the airline’s route rationalisation has nothing to do with the law and order situation in Karachi.
Malaysia is currently importing rice mainly from Thailand and Vietnam and Pakistani rice exporters may want to be more aggressive in penetrating Malaysian market and increase their exports.
He advised Pakistani manufacturers to re-energise and revitalise branding efforts of their manufacturing goods for export to Malaysia.
Malaysia and five other ASEAN members have signed ASEAN FT A and Pakistani exporters can make Malaysia as the hub to enter ASEAN market of 600 million population.
Two countries recorded $2.8 billion trade volume in 2011 and he invited trade delegation from KATI to visit Malaysia to further explore Malaysian market.
The Chairman, KATI Ehtesham Uddin invited Malaysian importers to visit Expo Pakistan being held in October in Karachi this year.
Patron In-Chief, KATI S M Muneer said wanted to improve its trade with Malaysia however showed his concern over the low volume of trade between the two countries.
President, All Karachi Industrial Alliance, Mian Zahid Hussain said Pakistani manufacturers to focus on eastern markets due to prevailing situation.
He emphasised on the need of frequent exchange of trade delegations between the two countries.
(Source: http://www.dailytimes.com.pk/default.asp?page=2012\06\15\story_15-6-2012_pg5_4)