Malaysian High Commissioner For Enhancing Bilateral Trade Up To $12b

Muhammad Irfan Published May 29, 2024 | 06:44 PM

Malaysian High Commissioner to Pakistan Mohammad Azhar Bin Mazlan Wednesday said that the current volume of bilateral trade between both countries stood at $1.8 billion as compared to its existing potential of $12 billion annually

ISLAMABAD, (UrduPoint / Pakistan Point News - 29th May, 2024) Malaysian High Commissioner to Pakistan Mohammad Azhar Bin Mazlan Wednesday said that the current volume of bilateral trade between both countries stood at $1.8 billion as compared to its existing potential of $12 billion annually.

Addressing the businessmen at the Islamabad Chamber of Commerce and Industry (ICCI), he said that the current volume of trade between the two countries was less than the mutual trade potential and that ICCI can play a significant role in its advancement, said a press release.

There are many opportunities for development in the halal industry in Malaysia and Pakistan, in which the private sector of both countries should play their full role by taking tangible steps, he said adding that his country would extend full cooperation to Pakistan to become a regional hub of halal industry.

He said that currently, over 5,000 Pakistani students were studying in Malaysian universities and an Islamic environment was available for Pakistani students in Malaysia, especially the female students who can continue their education there with full religious freedom.

Pakistan and Malaysia are strategic partners and this partnership is very important in the development and economic prosperity of both countries, he said adding over 200,000 workers work in different sectors and they have ample opportunities there.

Speaking on the occasion, former President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Ahmed Malik highlighted the historical economic and trade relations between Pakistan and Malaysia by underscoring the need for frequent exchange of think tanks of both countries to further the existing relationship.

Secretary General United business Group Zafar Bakhtawari, highlighting the significance of ASEAN States, underlined the need for grant of the status of a full dialogue partner to Pakistan, asserting that the direct air links between Pakistan and the ASEAN States will make a big difference in strengthening mutual trade ties.