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Home Business

Malaysian PM Arrives in Pakistan to Strengthen Trade and Investment Ties

by Alina Fida
03/10/2024
in Business, Economy, New, News, Pakistan
Reading Time: 2 mins read
0
Malaysian PM Arrives in Pakistan to Strengthen Trade and Investment Ties

Malaysian PM Arrives in Pakistan to Strengthen Trade and Investment Ties

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Malaysian Prime Minister Dato’ Seri Anwar Ibrahim arrived in Islamabad on October 2, 2024, for a three-day official visit aimed at boosting trade, investment, and bilateral cooperation between Pakistan and Malaysia. Prime Minister Shehbaz Sharif and senior officials welcomed him, along with a high-level Malaysian delegation.

Both countries share a longstanding relationship, built on shared Islamic values and historical ties since 1957. Over the years, they have collaborated in various sectors, including defense, economic cooperation, and cultural exchange. The 2008 Pakistan-Malaysia Free Trade Agreement significantly enhanced trade relations, and regular high-level exchanges have reinforced their mutual respect and partnership.

During the visit, Ibrahim will participate in the Pakistan-Malaysia Business Forum, focusing on enhancing cooperation in trade and investment. He will also meet with Pakistani President Asif Ali Zardari.

Pakistan’s foreign office stated that discussions will cover a broad agenda, including trade, connectivity, energy, agriculture, the halal industry, tourism, and cultural exchanges. Both countries aim to further strengthen their ties through people-to-people connections.

In 2023-24, bilateral trade between Pakistan and Malaysia reached $1.5 billion. Major Pakistani exports to Malaysia include rice, oil, textiles, and seafood, while imports include palm oil, LNG, and electronics.

Tourism between the two countries has been on the rise, with Malaysia being one of the top tourist destinations for Pakistanis. Additionally, over 160,000 Pakistani nationals live in Malaysia, and more than 3,800 Pakistani students are enrolled in Malaysian universities, making Pakistan the third-largest source of international students in Malaysia.

Pakistan also plays a key role in supplying labor to Malaysia across various industries, including construction, agriculture, and services.

Tags: latestPakistan

Alina Fida

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