ISLAMABAD
\nOn Friday, the High Commissioner of Malaysia, Dato\u2019 Mohammad Azhar Mazlan said that Malaysia and Pakistan have agreed to renegotiate the bilateral Free Trade Agreement (FTA) and the renegotiation process will start soon.
\nThe High Commissioner said that from Pakistan\u2019s side Minister for Commerce, Jam Kamal Khan will shortly participate in the dialogue process in this regard to renegotiate the bilateral FTA and there will be a also discussion between the two countries on other economic and trade issues.
\nHe said this at an event hosted by the high Commission of Malaysia, Islamabad which was attended by more than 50 prominent Pakistani industry leaders and stakeholders.
\nThe event was organized as a follow-up to the recent official visit of the Prime Minister of Malaysia, Anwar Ibrahim to Pakistan in October 2024, with a particular focus on enhancing trade, investment, and business collaborations between the two countries.
\nThe Free Trade Agreement (FTA) for Closer Economic and trade ties between Pakistan and Malaysia was signed on November 08, 2007 at Kuala Lumpur Malaysia and this Agreement is the 1st bilateral FTA between two brotherly Countries and members of OIC.
\nThis agreement is Pakistan\u2019s first comprehensive FTA incorporating trade in goods, trade in services, investment and Economic cooperation and Malaysia\u2019s first bilateral FTA with any South Asian country.
\nIn his remarks, Ambassador Dato\u2019 Mohammad Azhar Mazlan affirmed the High Commission\u2019s commitment to fostering a conducive environment for business partnerships and highlighted the importance of leveraging the outcomes of Malaysia\u2019s Prime Minister visit to boost economic cooperation.
\nThe Ambassador shared that the official visit of the Malaysian Prime Minister was very fruitful, resulting in two government-to-government and four business-to-business MOUs.
\nAdditionally, Malaysia plans to import $100 million worth of halal meat and 100,000 tonnes of Basmati rice from Pakistan.
\nThe High Commissioner also highlighted the recent opening of a MATRADE office in Karachi to further facilitate business engagement between both sides, and encouraged Pakistani business leaders to consider Malaysia as a gateway to the ASEAN region, which has a market of 680 million people.
\nDuring the ceremony, attendees provided valuable feedback on the current landscape of trade and investment between Malaysia and Pakistan, emphasizing the need for continued dialogue and collaboration to unlock potential for mutual benefits.
\nIn the regional context, the Malaysian high commissioner highlighted the opportunities presented by ASEAN (Association of Southeast Asian Nations), particularly Malaysia\u2019s geo-economic role as a gateway to the ASEAN market.
\nHe said that there is immense potential for Pakistan to expand its economic engagement in the region, especially as Malaysia is set to assume the ASEAN chairmanship in 2025.
\nThe bilateral engagements provided a platform for industry leaders to discuss key issues, share insights, and explore opportunities in trade and investment, he said.
\nHe said the discussions centred on the potential to strengthen bilateral economic ties and address challenges that may hinder collaboration.
\nIn closing, Ambassador Dato\u2019 Azhar thanked all attendees for their ongoing support in strengthening trade ties between Malaysia and Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD On Friday, the High Commissioner of Malaysia, Dato\u2019 Mohammad Azhar Mazlan said that Malaysia and Pakistan have agreed to renegotiate the bilateral Free Trade Agreement (FTA) and the renegotiation process will start soon. The High Commissioner said that from Pakistan\u2019s side Minister for Commerce, Jam Kamal Khan will shortly participate in the dialogue process […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-442493","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n