Malaysia top importer from Pak in Asean region in '09-10

ISLAMABAD (APP) - Malaysia emerged as top importer from Pakistan for the +second consecutive financial year among the eleven countries of South East Asia with an import of US dollars 194.72 million in the financial year 2009-10. Philippines with an import of $156 million and Vietnam with an import of $126 million remained second and third largest importers, said a statement issued by High Commission of Pakistan to Malaysia on Friday. The High Commissioner for Pakistan in Malaysia Masood Khalid while referring to the latest data released by the Trade Development Authority of Pakistan (TDAP) said in Kuala Lumpur on Friday that Pakistan exports to Malaysia recorded an unprecedented increase of 56.56pc with import of $194.72m in the year 2009-10 compared to export of US dollars 124.37 million in 2008-09. He termed it encouraging and added that there are many untapped areas like gems and jewelry, marble and stones, light engineering, cutlery, spices, leather, fruits and vegetable, handicrafts, raw wool, sports goods, pharmaceutical products, readymade garments, and meat and meat based products can be tapped to broaden the export base to Malaysia. He said currently Pakistanis exports related to traditional items like rice, fish, yarn, fabric, electrical appliances, line telephones, potatoes, onions, and corn etc. High Commissioner urged the traders and business men of both Malaysia and Pakistan to fully exploit the concessions available to them in duties, taxes and tariff under FTA, signed between the two countries in 2007. He said Joint Business Council (JBC) could also be utilised in a better way by the business community to bring about multifold increase in the existing volume of bilateral trade. According to the data, out of 66 commodities exported to Malaysia, 36 registered increasing trend with rice leading the list with five times increase with an export of dollars 52.13 million in 2009-10 compared to dollars 9.64 million in 2008-09. Vegetables registered two time increase with an export of dollars 10.75 million compared to dollars 4.96 million. Cotton yarn with an increase of 46pc, ready made garments with an increase of 83pc were amongst the biggest contributors. Decreasing trend was seen in 36 items including fish, cotton cloth, knit wears, bed wear, surgical goods, spices, and pharmaceutical products.

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