Pak-Malaysia agree for fostering deeper economic, trade cooperation

ISLAMABAD, Oct 3 (APP):Pakistan and Malaysia on Thursday agreed to take significant steps towards fostering deeper economic cooperation and exploring new business opportunities that benefit both nations.

Federal Minister for Commerce, Jam Kamal Khan held a meeting with Datuk Seri Utama Tengku Zafrul Bin Tengku Abdul Aziz, the Malaysian Minister for Investment, Trade and Industry (MITI).

This meeting underscored the brotherly relations both countries cherish in all fields, according to a release issued.

The Minister for Commerce welcomed Minister Tengku Zafrul Aziz to Pakistan and highlighted the longstanding friendship between the two nations.

Jam emphasized that there is huge potential to grow bilateral trade between the two sides.

The Minister urged for enhanced business engagements to transform this potential into reality.
Moreover, Mr Jam Kamal Khan stressed that there is a potential for growth in almost all the sectors of Pakistan.

He mentioned that Pakistan is exporting high-quality rice and mangoes all over the world.

He apprised the visiting Minister that recently Government of Pakistan had removed the Minimum Export Price (MEP) for rice which will allow Pakistani exporters to negotiate competitive prices.

He encouraged Malaysia may engage more with Pakistan to import rice.

A significant focus of the dialogue was on the potential for exporting halal meat from Pakistan to Malaysia.

The Minister reiterated Pakistan’s commitment to maintaining high halal standards, which are essential for expanding access to the Malaysian market.

He called for facilitation in the accreditation process for Pakistani meat and gelatin exporting companies, emphasizing that cooperation in this sector could greatly enhance trade flows.

Malaysian side acknowledged the difficulties faced by Pakistan businessmen in the procedural processes of JAKIM for exporting meat to Malaysia and reassured their commitment to ease these procedures for Pakistani businesses.

Moreover, Malaysian Minister for Trade invited Pakistan to participate in the activities of the ASEAN as Malaysia is taking the chair of ASEAN.

In closing, the Minister reaffirmed Pakistan’s commitment to creating a conducive environment for foreign investment, expressing optimism for the future of bilateral relations between Pakistan and Malaysia.