Pakistan should focus other than agriculture based products in trade with Malaysia as two countries have potential to increase volume of trade from current level of US $ 1.43 billion: Abdul Rahim Janoo
Karachi, September 10, 2015 (PPI-OT):Pakistan should focus other than agriculture based products in trade with Malaysia as the two countries have the potential to increase the volume of the trade from current level of US $ 1.43 billion. This was stated by Abdul Rahim Janoo, Senior Vice President FPCCI in a meeting with Malaysian Consul General Muhammad Ismail Baqri who visited FPCCI, Head Office, Karachi. The meeting was also attended by Shahnawaz Ishtiaq, Waseem Vohra, Shahab Zafar, Vice Presidents of FPCCI, Waheed Shah, Nasiruddin Sheikh and large number of importers and exporters.
While discussing the potential of trade between Pakistan and Malaysia Rahim Janoo stated that Pakistan imports Palm oil, electrical and electronic equipments, machinery chemicals, rubber, wood synthetic filament yarn, insecticides, automatic data processing machines and parts and accessories from Malaysia. He further said that Malaysian exports to Pakistan remain US $ 1.2 billion while exports of Pakistan to Malaysia stands at US$ 233 million. He said that the balance of trade is mostly in favour of Malaysia. He further informed that now the export of Pakistani maize, corn also started to Malaysia which a significant sign.
Rahim Janoo also proposed that Malaysian airlines should resume flight operation from Pakistan as many Pakistani people prefer to visit Malaysia on tourism. He drew the attention of the Malaysian Consul General towards imposition of export duty by Malaysian government which resulted decline in the import of crude palm oil from Malaysia. He said that the export duty should be abolished.
The Consul General of Malaysia Muhammad Ismail Baqri thanked for the warm welcome by Rahim Janoo along with his team and said that Malaysia is always ready to share its experience in every field with fellow Muslim countries specially Pakistan. He said that in past we had some security concern but now the law and order position is very much improved. He said that the stoppage of flight operation by Malaysian Airlines in Pakistan was due the reason of security concern. He assured that he will take up the matter with the airline and expressed his hope that Malaysian Airline will consider it.
While discussing the FTA between Pakistan and Malaysia, he informed that a lot of work hard is going on both side for FTA. He further said that Pakistan is a potential country and viable in terms of joint ventures, investments and trade and economic activities. Shahnawaz Ishtiaq, Vice President FPCCI presented vote of thanks to the attendees of the meeting.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94