The Malaysian High Commissioner, Mohammad Azhar Bin Mazlan, recently shed light on the vast untapped potential of bilateral trade between Pakistan and Malaysia. With a current trade volume of $1.8 billion, both nations possess the opportunity to elevate their trade relations to a staggering $12 billion. In a meeting with the Islamabad Chamber of Commerce and Industry (ICCI), High Commissioner Mazlan emphasized the pivotal role of private sectors in both countries in realizing this ambitious trade target.
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Opportunities in the Halal Industry
High Commissioner Mazlan underscored the significant opportunities for development in the halal industry in both Malaysia and Pakistan. He urged private sectors from both nations to take tangible steps towards harnessing these opportunities, emphasizing Malaysia’s readiness to cooperate with Pakistan in establishing itself as a regional hub for the halal industry.
Educational and Cultural Exchange
Highlighting the robust educational ties between the two nations, High Commissioner Mazlan mentioned that Malaysia hosts around 5000 Pakistani students in its universities. He emphasized the Islamic environment available for Pakistani students in Malaysia, ensuring full religious freedom, especially for female students. This exchange of knowledge and culture further strengthens the bilateral relations between the two countries.
Strategic Partnership and Economic Cooperation
Describing Pakistan and Malaysia as strategic partners, High Commissioner Mazlan emphasized the importance of their partnership in fostering economic prosperity. He lauded the significant contributions of Pakistani laborers in Malaysia’s economy, numbering around 200,000 and playing a vital role in various sectors.
Trade Opportunities and Investment
The High Commissioner highlighted Pakistan’s potential market of 240 million people, offering substantial trade opportunities, particularly in collaboration with ASEAN countries. He emphasized Malaysia’s commitment to enhancing trade ties with Pakistan, especially in sectors like telecom, where Malaysian companies are actively investing.
Strengthening Trade Ties
Senior businessmen Zubair Ahmed Malik and Zafar Bakhtawari echoed the importance of historical economic ties between Pakistan and Malaysia. They emphasized the need for frequent exchanges between think tanks of both countries to further strengthen trade relations.
Future Collaboration
Looking towards the future, Engr. Azher ul Islam Zafar, Vice President of the Islamabad Chamber of Commerce and Industry, emphasized the need for closer collaboration between Pakistan and Malaysia for shared prosperity and development. He highlighted the importance of diversifying trade products to enhance Pakistan’s exports to Malaysia.
the meeting between Pakistani and Malaysian officials underscored the immense potential for bilateral trade and economic cooperation. With concerted efforts from both sides, Pakistan and Malaysia can unlock new avenues of growth and prosperity for their nations.
