ISLAMABAD: The High Commission of Malaysia hosted an engagement with prominent Pakistani industry leaders and stakeholders, aiming to enhance trade, investment and business collaborations between Malaysia and Pakistan.

This event followed the recent official visit of Malaysia’s prime minister to Pakistan in October, focusing on strengthening economic ties between the two nations.

The gathering provided a platform for open discussions on key issues, sharing insights and exploring new avenues in trade and investment. Leaders highlighted opportunities to build stronger bilateral economic relationships and address challenges that may impact collaboration.

In his remarks, Ambassador Dato’ Mohammad Azhar Mazlan reaffirmed the high commission’s commitment to fostering a supportive environment for business partnerships.

He emphasised the importance of leveraging outcomes from the prime minister’s visit, which he described as highly productive. The visit led to two government-to-government and four business-to-business Memoranda of Understanding (MOUs).

Ambassador Azhar also announced that Malaysia would import $200 million worth of halal meat and 100,000 tonnes of basmati rice from Pakistan.

The gathering was informed that to further promote trade, Malaysia recently opened a MATRADE office in Karachi, aimed at facilitating business exchanges and encouraging Pakistani entrepreneurs to consider Malaysia as a gateway to the Asean region, a market of 680 million people.

The high commissioner had invited the business community to explore opportunities in Malaysian markets, highlighting the significant potential for strengthening business ties between the two countries.

Key sectors identified include agriculture, the automotive industry, renewable energy, information and communication technology, and artificial intelligence.

“We are envisioning a leap forward in value addition, moving beyond traditional markets,” the high commissioner stated as he encouraged businessmen to look at Malaysia as a destination for business, to enhance the low volume of trade beyond the current levels.

He believed that trade with Pakistan had the potential to surpass Malaysia’s business volume with both India and Bangladesh.

Guests provided valuable feedback on the current trade and investment landscape, emphasising the importance of ongoing dialogue and collaboration to unlock mutual benefits.

Ambassador Dato’ Azhar expressed gratitude to attendees for their support in strengthening Malaysia-Pakistan trade ties.

Published in Dawn, November 9th, 2024