KARACHI, Feb 10: The leader of 15-member Malaysian trade and investment delegation, Soong Siew Hoong, has said that there is virtually no problem of law and order situation in Pakistan particularly in Karachi.

He attributed the negative image of Pakistan to the improper and biased media coverage of foreign media, he said during a meeting with the members of Karachi Chamber of Commerce and Industry (KCCI) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Monday.

He said he is impressed with the present economical and political situation and it needs proper and strong media coverage which can dispel the wrong image which is being spread against Pakistan.

In a meeting with FPCCI vice-president Arshad Alam, he said that law and order situation is extremely good and the developing countries must join hands for eradication of poverty.

The policy of south-south cooperation will be in the best interest for developing countries.

On this occasion, the FPCCI and the leader of the delegation had also signed a memorandum of understanding (MoU) for further cooperation and exchange of delegations.

Arshad Alam said Malaysian entrepreneurs can invest in Pakistan in the sector of palm oil refinery besides in sectors like textiles and electronics.

In a meeting with KCCI president Shaukat Iqbal, Soong Siew said Malaysia investors are keen to enter into joint ventures with Pakistani counterparts particularly in the field of eliminating environmental pollution.

Soong said Malaysia could import furniture, leather goods and marine products from Pakistan.

The delegation’s main objective in Pakistan is to identify areas of cooperation which can be mutually beneficial for both the countries. He urged the local businessmen to visit Malaysia and carry out a market survey.

Pakistani businessmen can avail a good opportunity in Malaysia in food stuff by offering attractive price and quality as his country is not self-sufficient in food items. Malaysia imports around $3.5 billion of food stuff and the arrival of food through illegal channels is estimated at $1.5 billion per annum.

He said he was willing to sign a letter of cooperation with Pakistani chambers as has been signed with other foreign chambers.

Malaysia is also very interested in Pakistan’s privatization programme, he said.

Shaukat Iqbal said 60 per cent of Malaysia exports to Pakistan represent palm oil. Imports from Malaysia went up to $456 million in 2001-02 from $429 million in 2000-01, while exports to Malaysia slightly moved to $52 million in 2001-02 from $51 million which means that the balance of trade has been persistently against Pakistan. Items exchanged between the two countries are also very limited.

He said Malaysia can import rice, handicrafts, fruits, carpets, furniture and other non-traditional items in a big way.