Chairman of Businessmen Panel (BMP), Mian Anjum Nisar has urged the Malaysian government to enhance the quota of Pakistani rice export to Malaysia, at competitive prices, adding that Malaysia has also imposed 5 to 7% duties on import of mango and kinnows, which need to be reviewed.
He said Pakistan is a big supplier of IRRI and basmati rice and the Malaysian requirement is of 1,000,000 M Tons annually for domestic consumption. The share of Pakistan is not more than 200,000 Tons.
He said that throughout the six decades, Malaysia and Pakistan enjoyed very close and fraternal relations as both shared many commonalities and hoped that visit of Malaysian Prime Minister Dr Mahathir Muhammad to Islamabad on march 21st will give a new trade push to Pakistan in Association of Southeast Asian Nations (ASEAN).
Nisar said although Pakistan and Malaysia have signed FTA but not much momentum in trade has been witnessed which also requires special attention and efforts from both sides.
He emphasized on regular exchange of trade delegations and participation in trade promotional activities in both countries to boost the economic relations between both countries, regardless Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) also signed on 8 November 2007 in Kuala Lumpur which entered into force on 1 January 2008, Malaysia and Pakistan recognised the importance of regular discussions to strengthen the trade relationship in key sectors and addressing bilateral trade imbalance which needs to be taken up as Pakistani businesses eagerly need Malaysian market and ASEAN region to diversify its exports, particularly in horticulture, sports surgical and textile sectors.
BMP Secretary General and Former President FPCCI, Senator Ghulam Ali said Malaysia and Pakistan had enjoyed warm and friendly relations since the establishment of diplomatic ties in 1957.
Both the countries shared a similar position on regional and international issues through their membership in the Non-Aligned Movement (NAM), Organisation for Islamic Conference (OIC) and G77. In addition to these, Pakistan is also a dialogue partner of the ASEAN and a member of the ASEAN Regional Forum.
The exchange of trade delegations is direly needed to boost the bilateral trade ties and volumes, he said and added that on the visit of Malaysian PM, we are looking forward to sign a MOU between the National Chamber of Commerce and Industry of Malaysia (NCCIM) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in order to strengthen business to business interactions which further helps to remove the government obstacles time to time.
The BMP officials also viewed the future Pakistan will need to manage its economy in a completely different way.
"Today, Pakistan's growth story is one of boom and bust. A few years of strong growth are always followed by crisis. We are in the middle of such a crisis.
To avoid such crises in the future, both the state's revenue collection and its private sector must be strengthened. Efforts to broaden the tax net and bolster tax administration will permanently increase tax revenues without continuing to increase the burden on those already paying taxes. The country's private sector needs to be made more competitive through an improved business environment, increased openness to trade and investment, and reforms in the energy sector."