FAISALABAD: Malaysia is making serious endeavors to mitigate the supply chain problems in the wake of Pandemic and in this connection, preference will be given to purchase the commodities directly from Pakistan and Faisalabad, said Dato Haji Ahmad Nazlan bin Idris Chairman of the Perbadanan Usahawan Nasional Berhad (PUNB).
He was heading a delegation of Malaysian entrepreneurs. Addressing the business community of Faisalabad in FCCI (Faisalabad Chamber of Commerce & Industry) here today, he said that the Malaysian delegation has earlier visited Pakistan Agri Expo 2022 in Lahore and now we are visiting Faisalabad to identify new suppliers for the Malaysian markets. He said that the Malaysian delegation is composed of representatives of food, textile and industrial sectors, however we intend to purchase fresh foods and vegetables including potato, onion and frozen meat. “Similarly, we also try to purchase raw material for textile products used in home, hotel and hospitals in addition to the garments”, he said and added that our entrepreneurs would also explore new opportunities for investment in Faisalabad.
About post corona impacts, Haji Ahmad said that the global economy was disturbed due to supply chain interruption. He said that the situation is now returning back to normal and we are exploring new destinations to make our purchases with minimum freight charges. He was optimistic that this visit of the Malaysian delegation would also exacerbate the bilateral trade between the two countries.
Atif Munir Sheikh President FCCI in his address of welcome introduced Faisalabad and FCCI. He said that Faisalabad is strategically located in the heart of the country and is linked through reliable air, rail and road links. He said that Faisalabad has state-of-the-art industrial estates. He said that M3 and Allama Iqbal Industrial Estate have been given the status of Special Economic Zones to offer a ten-year tax holiday to the new investors. He said that 65 industrial units with FDI are operating and contributing a major role in enhancing national exports.
About the fully developed textile sector, he said that Faisalabad alone is contributing 45% share in total textile export of Pakistan. “Similarly, its share in overall export is 22% while it is also catering 80% domestic clothing needs of the country”, he said.
He said that FCCI has 8,000 members hailing from 72 different sectors and trade. He said that we have inked the Free Trade Agreement (FTA) but could not fully exploit its potential. He said that 28 FCCI members are already doing business with Malaysia but their numbers must be increased to enhance our overall trade volume.
Executive Member Muhammad Azhar Chaudhary gave a comprehensive presentation on business opportunities between Pakistan and Malaysia and said that Faisalabad has been producing quality products and we are holding “Made in Faisalabad Expo” every year to showcase our products. He said that this exhibition could also be arranged in Malaysia to give a quantum jump to our bilateral trade. He mentioned the Pakistan Economic Conference and said that next year it would be held on March 03, 2023. He said that B2B meetings would also be arranged so that Pakistani and Malaysian businessmen could sit together and discuss opportunities to launch joint ventures. He particularly mentioned the fast-growing Halal markets and said that its volume is expected to jump to 3 trillion in 2023. He said that we must collaborate to get the lion’s share through branding.
Rashid Munir former Chairman Faisalabad Dyes and Chemicals Merchants Association presented FCCI shield to Haji Ahmad while he also reciprocated by presenting gifts to President Atif Munir Sheikh. Later B2B meetings were held between FCCI members and Malaysian delegates.
Copyright Business Recorder, 2022
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