‘Malaysia, Pakistan need to diversify trade’

KARACHI: Ismail Muhammad Bkri, Consul General of Malaysia, has stressed the need for diversifying bilateral trade between Malaysia and Pakistan.

“The trade between the two countries has been concentrated to few items,” he said during his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday.

Malaysia’s major export to Pakistan is palm oil and rice is major commodity for import.  The consul general said that both the countries should focus on traditional and non-traditional goods for enhancing bilateral trade.

He said that the security situation in Pakistan was improved. The consul general said that China Pakistan Economic Corridor (CPEC) would improve economy of Pakistan and it would also benefit Malaysia economy.

Regarding trade barriers, he said that it was necessary to identify obstacles in improving trade.

On the occasion, Senior Vice President FPCCI Kahlid Tawab said that Pakistan’s had good perception in Malaysia. He said that both the countries should identify trade opportunities and this should not be limited to mere palm oil trade.

Other office bearers of the FPCCI urged the consul general to ease visa policy for Pakistani entrepreneurs. They also complained about trade mark as different origin products were in Malaysian market having such brands that were registered by Pakistani companies.