Malaysian envoy, ICCI chief keen to enhance bilateral trade

ISLAMABAD, FEB 27 (DNA):  Malaysia, one of the world’s fastest-growing trading nations, and Pakistan, striving for an export-led economy under the “Uran Pakistan” initiative, must focus on economic diplomacy to unlock their full trade and investment potential. This was stated by Malaysian High Commissioner Mohammad Azhar Bin Mazlan during an interactive session at the Islamabad Chamber of Commerce and Industry (ICCI).

Highlighting the immense opportunities for bilateral cooperation, the High Commissioner emphasized that both countries could collaborate in key sectors such as the agro-industry, halal industry, digital economy, energy, and education. He noted that over 5,000 Pakistani students are currently studying in Malaysia, benefiting from technical cooperation programs that enhance skills in economic development and governance.

“Pakistan and Malaysia must engage and collaborate more closely to boost trade, business, and investment for a win-win outcome,” he stated. He also stressed the pivotal role of the business community in driving economic growth, adding that stronger confidence among Pakistani entrepreneurs would encourage foreign investment in the country.

The envoy called for enhanced business-to-business (B2B) engagements, closer ties between the Pakistani and Malaysian Chambers of Commerce, and high-level business delegations to increase trade volume to $ 5 billion. He pointed out that the current trade between the two countries does not reflect their true economic potential.

Malaysia, a global leader in the halal industry, is keen to support Pakistan’s efforts to become a regional hub in this sector. He encouraged the private sector in both countries to take concrete steps toward industry development.

He also reassured that Malaysia offers a safe and conducive educational environment for Pakistani students, particularly female students, allowing them to continue their education with full religious freedom.

Earlier, ICCI President Nasir Mansoor Qureshi welcomed the Malaysian High Commissioner and highlighted Pakistan’s foreign investment potential in diverse fields such as the halal industry, IT, biotechnology, agriculture, tourism, energy, and manufacturing. He announced ICCI’s plans to organize a high-profile business delegation to Malaysia to explore joint venture opportunities and new trade partnerships.

He stressed the need for frequent business delegations, trade exhibitions, and B2B networking events to maximize trade opportunities.

Former ICCI President Mian Shaukat Masood also shared insights on collaboration in IT and technology sectors.

The session concluded with a collective commitment to enhancing economic, trade, and investment ties between Pakistan and Malaysia, with a focus on strategic partnerships and long-term economic growth.

Prominent attendees included ICCI Senior Vice President Abdul Rehman Siddiqui, Vice President Nasir Mehmood Chaudhry, and executive members Irfan Chaudhry, Waseem Chaudhry, Zulqurnain Abbasi, Rohail Anwar Butt, Ms. Shumaila Siddiqui, Naveed Satti, Ishaq Sial, Malik Mohsin Khalid, Chaudhry Nadeem, Advisor to ICCI President Naeem Siddiqui, and members Sheikh Ejaz, Chaudhry Mohammad Ali, and Maqsood Tabish.