Team visits LCCI: Enhanced share in Malaysia imports sought

LAHORE: Pakistan’s share in Malaysian imports of $238 billion is nowhere that can be enhanced through little efforts and Pakistani embassy in Malaysia can play an instrumental role in this regard.

These views were expressed by the Senior Vice President of the Lahore Chamber of Commerce Mian Rehman Aziz Chan while talking to a delegation of Malaysian entrepreneurs, led by Waseem Bin Ahmed, at the LCCI. Executive Committee Member Mardan Ali Zaidi was also present on the occasion.

The LCCI SVP said that Pakistan and Malaysia have close and cordial relations since long and this relationship is growing and strengthening with the passage of time but this should be reflected in mutual trade and economic ties.

Mian Rehman said that Pakistan’s major exports to Malaysia are cereal, textiles and clothing, rice, vegetables, seafood (fresh, chilled and frozen), chemical and chemical products whereas major imports from Malaysia are palm oil, chemical products, electrical and electronic products. Other exports from Pakistan to Malaysia include fish, potatoes, onion, maize, cotton yarn, woven fabrics, synthetic staple fiber, bed-linen, electrical apparatus for line telephony and parts and accessories, whereas other imports from Malaysia are rubber, wood, synthetic filament yarn, insecticides, automatic data processing machines and parts and accessories.

Mian Rehman Aziz Chan said it is a bit discouraging that Pakistan is not in this list of top trading partners of Malaysia despite having good relations and having best-of-the-best products in the world. He said that the balance of trade has always been in favour of Malaysia and this situation is prevailing. He said that we want to acquire some justifiable share in trade with Malaysia.

There is a huge potential of exporting Pakistani rice, fresh fruits like citrus and mango to Malaysia. He said joint ventures in the fields of livestock & dairy, food processing, energy, chemicals, and Halal products and especially in light engineering can further strengthen the trade ties between two countries.

Copyright Business Recorder, 2022