Karachi, August 10, 2018 (PPI-OT): There is dire need for projection of Pakistan’s potential in Malaysia including investment opportunities to boost trade and attract investment. Many Malaysian companies are interested to invest in Pakistan, but are afraid of the reportedly poor law and order situation.
“There seems lack of awareness among Malaysian investors and traders about trade and investment opportunities in Pakistan,” observed Malaysian Consul General in Karachi, Khairul Nazran Abd Rahman said. He was talking to a group of journalists after inaugurating EL Rancho Argentinian Grill restaurant and modern fitness club “My Gym” for male and female, in DHA.
The event was also attended by the Consul Generals of Indonesia, Bangladesh, Deputy Consul General of Bahrain, Commercial Consul of Malaysia and elite of the city. The Consul General of Malaysia emphasized on more interaction between the private sectors and governments of the two Muslim countries for increasing trade and investment especially in tourism sector. Malaysia had very developed and organized tourism industry, and Pakistan could benefit a lot.
It would be more proper and practical that maximum businesspersons from both the sides should visit and convince each other for increasing trade in goods and services and investment in different potential sectors, he added. He said during the year 2017-18 the bilateral trade figured dollars 1.3 billion and it was in Malaysia’s favour. Malaysia mainly imports textile and electronic products from Pakistan and its major exports to other side were palm oil and chemicals.
He said this could be multiplied with mutual efforts of both the countries, who should take maximum benefits of their free trade agreement signed on November 8, 2007 in Kuala Lumpur. This FTA was one the most comprehensive agreements signed by Pakistan and it aimed at promoting bilateral trade by giving tariff preferences on various items. It covers trade in goods and services, investment and economic cooperation.
It is especially for Pakistan to take more initiatives and full benefit of FTA, he said. Malaysian diplomat said hotel industry was flourishing in his country due to the best developed tourism industry. Shangrilla and Brijaya were the two major and famous chains of hotels. The latter was also affiliated to ASEAN hotel networks. Malaysian hotel chains had big interest to expand their network to Pakistan but were shy because of negative propaganda about security situation here.
He said Malaysian mission in Karachi was making every possible effort to increase trade, investment and economic cooperation between the two countries. He said the mission members felt at home in Karachi and found the people here very hospital and cooperative. Khairul Nazran said he, along with some senior officials of his Consulate, had planned to visit other cities of Sindh especially the tourist sites like Mohen-Jo-Daro so that they could better mobilize Malaysian people for tourism in Sindh.
To a question, he said there was big demand for Pakistani fruits especially for mango which is very tasty. Malaysian Consul General mentioned that both the countries had cooperation in other areas as well. At present, about one thousand Pakistani students were studying in various universities of Malaysia. Over the passage of time, he hoped, the number would increase. He referred to recently held two-day Malaysian Expo here, and that it received very good response.
For more information, contact:
Consulate General of Malaysia
No. 7-A, Main Khayaban-e-Shamsheer, Phase V, DHA,
Karachi – 75500, Pakistan