BUSINESS

Syed Mazhar Ali Nasir SVP FPCCI Congratulates Prime Minister on the Visit to Malaysia

KARACHI: Syed Mazhar Ali Nasir, Sr. Vice President of the Federation of Pakistan Chambers of Commerce and Industry congratulated Prime Minister of Pakistan Mr. Imran Khan on his successful visit to Malaysia opening new vistas of cooperation. Syed Mazhar Ali Nasir also appreciated the signing of an agreement for partial visa abolishment and termed its positive momentum in the bilateral relationship by broadening contact at the officials’ level between the two countries.

In a press statement of FPCCI, Syed Mazhar Ali Nasir said that Pakistan and Malaysia are two important countries of the Muslim world (over 239.62 million people) and constitute about 14% of the total Muslim population of the world.  Both countries are the members of Commonwealth, OIC, D-8 and the Asian Union and are bonded together by old historical links and enjoy cordial relations based on commonality of religion, he added. As far as economic relations are concerned, Malaysia is the largest trading partner of Pakistan in the ASEAN region and can play its due role in seeking the entry of Pakistan into ASEAN Regional Forum.

He further added that the establishment of bilateral consultation between the senior officials of both Ministries of Foreign Affairs will further strengthen bilateral economic and trade relations. While quoting the statistics, he indicated that the bilateral trade volume between both countries stood at US$ 1.35 billion with Pakistan’s export to Malaysia volume US$ 186.22 million and imports volume US$ 1.17 billion and is in favor of Malaysia Pakistan need to enhance its share in Malaysia’s imports.  There is a possibility of joint ventures investment in palm oil, agri products, food retail, halal products, automotive parts, energy, science and technology, and telecommunication which need to be further expanded.

While commenting the Malaysia Pakistan Closer Economic Partnership Agreement (MPCEPA) which came into effect in 2008, he said that it needs to be reviewed by both nations for expanding the market of Pakistani products in Malaysia. He also appreciated the offers of Malaysia for resolving the energy problem of Pakistan and agrees to make the investment in hydroelectric and renewable energy resources.

He stated that Halal industry is one of the lucrative areas where in Malaysia can share its expertise and offer halal certification facility to Pakistan products. Apart from trade and industry, there are huge possibilities of collaboration in education, health, tourism, defense, and other sectors. He also appreciated the initiatives of the Malaysian government to offer the scholarship to Pakistani students to study in top universities of Malaysia from undergraduate to Ph.D. level.  Pakistan and Malaysia signed MoU related to recruitment of Pakistani Workers in 2003 which need to be implemented soon in true spirit, he said.

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