Diamond Trade and Investment Award was conferred on Malaysia at the inaugural ceremony of Diplomatic and Foreign Investment Award 2010 held on 7 May 2011 in Karachi. The event organised by Diplomatic Call International Magazine was held to acknowledge and recognise the role of foreign investors and diplomats in the economic development of Pakistan.
Malaysia's Consul General, Mohd Khalid Abdul Razak was present to receive the award on behalf of his country, which ranks first in the diamond category, followed by China and Switzerland. Based on the figures provided by State Bank of Pakistan, Malaysia is among the top five investors in Pakistan (July 2006 to October 2010) with total investments of US $855.7 million.
Razak while speaking to media reiterated that Malaysia is the largest importer and trading partner of Pakistan among the ASEAN countries in Pakistan and the second largest trading partner with Pakistan among the South Asian countries. He further said that, for the last five years, Malaysia's FDI to Pakistan in fact surpassed US $1 billion mark and in no time will reach a new height of US $2 billion. Malaysia has been a close trading partner of Pakistan since 1957 and new investments in Pakistan is expected with the revival of the IT Tower Project in Karachi.-PR
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