FAISALABAD: Bilateral trade between Pakistan and Malaysia has huge potential, said Mian Kashif Zia, Chairman Pakistan Hosiery Manufacturers and Exporters Association (North Zone) while addressing a Malaysian trade delegation at PHMA office here today.

He said that joint ventures and business-to-business meetings between business people of the two countries were a matter of urgency to promote trade between the two countries. He Said That “Our members export knitwear products to the world’s biggest brands, but unfortunately our Knitwear Export to Malaysia were only 6.60 million Dollars in 2021, while Malaysia imports 759 million Dollars from the world,

Mian Kashif Zia said that Pakistan’s share in Malaysia’s imports is very small while Pakistan has a growing potential in the local market, availability of abundant natural resources and independents investment system which makes it the best place for investment and trade. Business men should also take full advantage of this.

The head of the delegation Dato Haji Ahmad Nazlan bin Idris said that Pakistan’s major exports to Malaysia are grains, textiles cloths, rice, vegetables, chemicals and chemical products while Pakistan imports more palm oil, chemical products, electrical and electronic products than Malaysia. Other exports to Malaysia include fish, potatoes, onions, corn, cotton yarn, synthetic fiber and electrical equipment for telephone lines.

He said other imports from Malaysia include rubber, timber, synthetic filament yarns, pesticides, automated data processing machines and spare parts. However, it is somewhat discouraging that Pakistan and Malaysia are not included in the list of best trading partners even though they have good relations and excellent products in the world.

Muhammad Izwan Zainuddin Chief Executive PUNB said that the balance of trade has always been in favour of Malaysia and we want to get some legitimate share in trade with Malaysia as there is huge potential for export of fresh fruits like Pakistani rice and lemons and mangoes. He said that there was a need to establish good coordination with our mission in Malaysia, so that all the challenges faced in increasing exports could be overcome.

The meeting was also attended by former Vice Chairman PHMA Shaheen Tabassum, Muhammad Zubair, Mian Imran Latif, Mian Umar and TDAP Deputy Director Fazlur Rehman Rao and other members. In the end, Mian Kashif Zia presented the honorary shield of PHMA to the distinguished guest Dato Haji Ahmad Nazlan bin Idris.

Copyright Business Recorder, 2022