Enormous trade potential between Pakistan and Malaysia exists and it could be doubled from current level and both businessmen and governments are striving making it a common goal, the newly established Malaysia-Pakistan Business Council is currently in the midst of charting its agenda and direction in this regard, this was stated by Dato Mohammad Saleem the first President of the business council in a statement on Saturday.
The main focus of this council is to explore mutually beneficial trade opportunities in the two countries. Preliminary assessment of the council members is that if properly managed, the trade volume between the two countries can double: from USD 2.3 billion to USD 4.6 billion in the next five years. Initial studies reveal that the exports to Malaysia could increase by scrutinising and developing new ways whereby Malaysian importers and government sponsored agencies and institutions can procure more products from Pakistan.
These products include rice, wheat, beef, fruits and processed milk, he said. The council's President proposed the authorities in both countries to set up a trade assistance programme, similar to the one between Japan and China. It would be in Pakistan's interest to take advantage of Malaysia's expertise in many fields such as assisting Pakistan in improving and enhancing processes such as cold chain maintenance techniques, concentrate and pulp processing, and canning fruits etc.
Malaysia is an attractive tourist spot and it would be worthwhile to promote the Malaysia-Tourism and Malaysia My Second Home programmes in Pakistan. In order to ensure continued Malaysian investors interest the council advises to find an early resolution to the TNB-Liberty Power Plant and other similar issues. As far as Pakistani products are concerned, the Council says that Malaysia hopes to import larger volumes of rice and wheat to Malaysia, as well as wheat-based products such as flour; ready to eat, frozen foods and seafood.-PR
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