Businesspeople urged to set up textile units in Malaysia: HC

February 15, 2013

RECORDER REPORT

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Malaysian High Commissioner to Pakistan Hasrul Sani Bin Mujtabar has invited the business community of Sialkot that they should come forward and establish a textile unit in Malaysia in joint venture. Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI) on Thursday he stressed upon the business community that they should establish a base in Malaysia for attaining maximum trade benefits Asean countries.

The setting up a base in Malaysia will not only help in boosting trade activities but also supportive in introducing Pakistani products in Asean countries he was of the opinion. The HC further informed the house that establishing business Malaysia the businessmen will get 10 year visa besides relaxation in taxes. Hasrul Sani Bin Mujtabar said that Malaysia and Pakistan are enjoying highly cordial relations since long and these ties would further be strengthened with the passage of time.

He disclosed that 80,000 Pakistani tourists visit Malaysia on yearly bases and this tendency was increasing day by day adding that at present he said there are 30,000 Pakistani are living in Malaysia. The HC said that in order give boost in trade between the two friendly countries Malaysia-Pakistan business forum may be formed to facilitate the trade growth among the two countries. He assured the members of the Chamber that business urgent visa would be processed in same day to facilitate the business community.

In his address of welcome President SCCI Sheikh Abdul Majid said that in order improve bilateral trade exchange of trade delegations and one-to-one meeting of businessmen of both the sides are crucial for which both sides must ensure simple visa policy so that the businessmen get visa easily and meet each other as and when required.

To enhance bilateral trade it is essential that private sector of both the countries should come forward and interact more frequently to realize the potential, he suggested. Majid said Pakistan Malaysia could improve bilateral trade and investment substantially by identifying untapped potential areas and encouraging business communities of both sides to take full advantage of enabling environment made available to them after signing of Free Trade Agreement in 2007.

The bilateral trade volume between Pakistan and Malaysia was US2.8 billion in 2012 with Pakistan's share being on US257 million as result of which balance of trade in favour of Malaysia he added. Expressing hope he said that meeting will result in promoting better understanding between business communities of two friendly countries and pave the for enhancing trade and economic ties.