Global Rice News

During a significant meeting at the Hyderabad Chamber of Commerce and Industry (HCCI), the Consul General of Malaysia in Pakistan, Herman Hardynata Bain Ahmad, revealed exciting news about the trade relations between Malaysia and Pakistan. The Consul General highlighted the inclusion of approximately 10,000 Pakistani products in the bilateral free trade agreement, which is expected to have a substantial impact on both nations. Additionally, he announced plans for a Malaysian trade delegation to visit Hyderabad, further solidifying the efforts to strengthen economic ties and bridge the trade imbalance.

Expanding Economic and Educational Ties

One of the key developments shared by the Consul General was the signing of 45 memorandums of understanding (MoUs) between Malaysia and Pakistan. These agreements are a testament to the commitment of both countries to forge closer economic and educational ties. Notably, the Malaysian government has offered scholarships to Pakistani postgraduate and PhD students, showcasing their dedication to fostering educational opportunities. The Consul General also expressed his desire to explore the potential for increased import of Pakistani rice and the use of Malaysian ports as a transit facility for Pakistani exports to other countries.

Addressing Trade Imbalance and Cooperation Opportunities

Adeel Siddiqui, the President of HCCI, shed light on the trade imbalance between Malaysia and Pakistan. He emphasized that Pakistan imported $100 billion worth of palm oil from Malaysia, while only exporting $0.5 billion worth of goods. Siddiqui advocated for a review of the free trade agreements to ensure a more balanced trade volume and a fairer exchange of goods. In addition, he proposed exploring joint ventures in sectors such as hotels, healthcare, and education to further boost economic relations and create mutually beneficial opportunities.

Strengthening Bilateral Ties Through Trade and Investment

Hissam Iqbal Baig, Chairman of HCCI’s Diplomatic Affairs Sub-Committee, acknowledged the crucial role played by the business communities in enhancing trade volume and strengthening bilateral ties. Baig emphasized the potential for investments in the textile and tourism sectors, which could generate significant foreign exchange for both countries. Additionally, members of the chamber suggested that Malaysia could increase its rice imports from Pakistan to further improve trade dynamics.

Promising Future for Malaysia-Pakistan Relations

The meeting between Malaysian and Pakistani officials serves as a promising step towards deepening economic, educational, and cultural ties between the two nations. By addressing the trade imbalance and exploring new cooperative ventures, Malaysia and Pakistan are laying the foundation for a fruitful partnership that promises mutual benefits and a stronger bond in the years to come.

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