Indian trade with Malaysia 3 times higher than Pak

Karachi - High Commissioner of Malaysia Dato Ahmed Anwar Adnan has said that Indian trade with Malaysia is three times higher than of Pakistan. Addressing the Karachi Chamber of Commerce and Industry here on Friday he said that it is contingent to Pakistani business community to capture their share whilst interacting with their Malaysian counterparts. He was of the view that Pakistani products are open to Malaysian market and the business community should play its effective role while exchanging trade delegations and successful business relations. He appreciated that although hi-tech industry is under breeding period in Pakistan but the quality of products is outclass. He informed about the immense demand of Malaysian edible palm-oil in Pakistan which holds 95% share in the edible oil industry. High Commissioner highlighted the milestones of Malaysian economy in the progressive era of Dr. Mahathir Mohammed when Malaysia achieved manifold distinctions and crucial trade links were maintained with the neighbouring ASEAN countries who are the major trade partners. He was surprised that Pak exports are less focused at Eastern Asia and more upon the Middle East and Gulf region. He also referred his visits to other chambers and told that Pakistan is manufacturing quality products of house holds like sanitary fittings and electrical goods which Malaysia imports from China. President, Karachi Chamber of Commerce & Industry, Abdul Majid Haji Muhammad, expressed that to surmount the trade imbalance, it is imperative that all types of Rice (Basmati, non-basmati, parboiled, white rice) be declared as major item versus Palm Oil in Pak-Malaysia FTA - Free Trade Agreement, presently the balance of trade is in favor of Malaysia which necessitates to be abridged while increasing the exports. He drew the attention of High Commissioner of Malaysia to contemplate new avenues to enhance the bilateral trade. He was of the view that presently the Trade Balance is in favour of Malaysia and the Free Trade Agreement between Pakistan & Malaysia, which is the first-ever FTA between two Muslim member countries of OIC, needs immediate revision while declaring all types of Rice as main item against the Malaysian Palm Oil. APP: The trade volume has enhanced between Pakistan and Brunei Darussalam from $ 1 million to $ 5 million. This was disclosed by High Commissioner Brunei Daruss-alam in Pakistan Col. (r) Abdul Jalil Haji Ahmad while addressing a press conference here on Friday. He said a commission had been set up between both countries in 2006 for trade activities and its office was set up in Karachi. He added in 1993 and 2003 meetings were held between both countries to enhance trade activities. He said Brunei Darussalam was also working on various welfare schemes in Pakistan and providing assistance to flood affectees.

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