Faisalabad,21 October-2011 : Pakistan and Malaysia can boost their bilateral trade, said Malaysian High Commissioner, Mr. DATO’ AHMAD ANWAR ADNAN during a meeting with President, Vice President & Executive committee at FCCI significant number industrialists and exporters were also present at the occasion. He said in spite of Free Trade Agreement (FTA) our bilateral trade is not high as should be it’s due to un-awareness. He highlighted that Malaysian is a big consumer market, so Pakistani exporters can beneficiate from it. He promised to issue urgent visas to the members of the FCCI for promotion of bilateral trade among the two friendly countries. He also describe that many Malaysian companies are already invested in power sector of Pakistan he also urge to motivate the investors to do more investment in different sectors of Pakistan. The Western media is presenting negative image of Pakistan due to this reason investors and buyers are hesitating to do business with Pakistan. During the last year bilateral trade of Pakistan and Malaysia was $ 2 billion, Malaysia contributed 70% but Pakistan’s exports were only 30%. Pakistan’s Palm Oil imports consists 70% of total imports from Malaysia he added.
During his welcome address President FCCI Muzammil Sultan said that Faisalabad alone has been contributing about 55% of the total textile exports of the country during the last many years. Pakistan and Malaysia have always enjoyed extremely cordial and friendly relations. There is tremendous trade potential between the two countries and our businessmen attach great importance to their trade relations with Malaysia. He further said it is pertinent to mention here that Pakistan and Malaysia has signed Free Trade Agreement. This agreement had been operative from 2008, and significant increase has been observed in the bilateral trade after the operationalisation of FTA. It is also important to high light that a review committee is working to more refine the FTA while bilateral trade will be boosted up.
During question answer session Former executive member FCCI, Engr. Rizwan Ashraf, Malik Muhammad Arshad, M. Asif and Ch. M. Asghar also highlighted issues before the Ambassador. At the end of meeting Vice President, FCCI Rehan Naseem Bharara offered Vote of thanks, while President FCCI Muzzamil Sultan presented the FCCI Memento to Malaysian High Commissioner.