Global Rice News

Consul General Herman Hardynata Bin Ahmad of Malaysia has expressed that while trade between Malaysia and Pakistan is largely in Malaysia’s favor, Pakistan’s share in bilateral trade is improving. This is due to Malaysia increasing its purchases of rice and frozen food from Pakistan. However, Malaysia is unable to meet Pakistan’s growing demand for palm oil, as its production capacity is limited. Speaking at a meeting with the Karachi Chamber of Commerce & Industry (KCCI), Consul General Ahmad emphasized the need for strengthening trade and investment ties between Malaysia and Pakistan.

The meeting was attended by President KCCI Iftikhar Ahmed Sheikh, Senior Vice President Altaf A. Ghaffar, Vice President Tanveer Ahmed Barry, and other members of KCCI. Consul General Ahmad expressed his interest in participating in more meetings organized by the business community in Karachi, with a focus on trade and investment. He also mentioned that a Malaysian delegation visited Pakistan last year to explore new trade opportunities, and he plans to bring more such delegations to Karachi this year.

Consul General Ahmad highlighted the cooperation between Malaysia and Pakistan in trade and defense. He mentioned that Malaysia sends its defense officials for training in Pakistan, while Pakistani officials from the armed forces receive training in Malaysia. He also spoke about the potential for collaboration in the tourism sector and capacity building in various sectors of the economy.

President KCCI Iftikhar Ahmed Sheikh welcomed the Malaysian Consul General and emphasized the strong bilateral economic relationship between Pakistan and Malaysia. He stated that the current trade volume between the two countries is below its true potential and needs to be enhanced. Sheikh called for the elimination of trade barriers, encouragement of ease of doing business, and diversification of products for economic cooperation. He proposed the implementation of a comprehensive Free Trade Agreement (FTA) to establish a closer economic partnership between Pakistan and Malaysia.

Sheikh also highlighted the importance of economic integration with the ASEAN block, which has a collective GDP of $3.6 trillion. He believed that this integration would open new avenues for strengthening ties between Pakistan and ASEAN members. He also mentioned the opportunities for Malaysian businesses to explore joint ventures in sectors such as agriculture, textile, pharmaceuticals, energy, and more. Sheikh emphasized the potential for collaborations in training and capacity building, which can contribute to an increase in remittances from Malaysia.

In conclusion, Consul General Ahmad and President Sheikh agreed on the need for closer collaboration and efforts to enhance trade and investment between Malaysia and Pakistan. They recognized the potential for growth in various sectors and stressed the importance of joint ventures and economic integration.

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