https://arab.news/98weh
- Shehbaz Sharif says Pakistan-Malaysia trade has ‘enormous potential’ that needs to be fully harnessed
- Malaysia is a major supplier of palm oil to Pakistan, with halal meat still a largely untapped trade area
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday directed his administration officials to draw up a concrete plan for boosting Pakistani beef exports to Malaysia, as part of efforts to strengthen trade with the Southeast Asian nation.
Malaysia is a major supplier of palm oil to Pakistan, with halal meat remaining a largely untapped area for bilateral trade. The prime minister chaired a meeting to review the trade situation via video link from New York, where he has been attending the United Nations General Assembly this week.
“There is enormous potential in Pakistan-Malaysia trade and we are taking steps to harness it fully,” Sharif said, according to a statement circulated by his office after the meeting.
“Relevant institutions must prepare a viable and concrete plan for the export of Pakistani beef to Malaysia,” he instructed.
The prime minister described Pakistan and Malaysia as having “long-standing brotherly relations spanning decades” and said Kuala Lumpur had always stood by Islamabad in times of difficulty, support which Pakistan “values highly.”
Pakistan and Malaysia established diplomatic ties in 1957, soon after Malaysia’s independence, and cooperate in forums such as the Organization of Islamic Cooperation (OIC) and the Commonwealth.
The centerpiece of their economic relationship is the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA), signed in 2007 and in force since 2008.
Recovering from a prolonged economic crisis that pushed it close to default, Pakistan is striving for export-led growth and actively seeking new markets.