The government has invited businesses in Pakistan to enter into more joint ventures with Malaysia, particularly in the development of downstream products.
These include those in the oleochemical industry, natural rubber seismic bearings, rubberised roads, timber doors, floor panels, wooden doors, premium chocolate, and pepper.
Minister of Plantation Industries and Commodities, Datuk Zuraida Kamaruddin said they also invited the Islamabad and Rawalpindi Chambers of Commerce to participate in the Malaysia International Agri-commodity Expo and Summit (MIACES) from July 26 to 28 in Kuala Lumpur.
“Pakistan and Malaysia share common values and cultures, offering much room for expansion, especially in trade.
“Pakistan is also one of Malaysia’s largest trading partners in Agri commodities, and we have several joint-venture projects, particularly in the palm oil industry at Port Qasim.
“We value Pakistan’s support and friendship and believe more should be done to increase trade activities between the two countries,” she said.
Zuraida was on a working visit to Pakistan from March 30 to April 1 to strengthen agricultural commodities trade relations between the nations.
The Malaysian delegation also promoted the country’s primary agricultural commodities, namely palm oil, rubber, timber, pepper, cocoa, and kenaf.
The minister also met with Abdul Razak Dawood, Adviser of Commerce and Investment to the Prime Minister of Pakistan, and Ayub Afridi, Adviser of Overseas Pakistanis and Human Resources Development to the Prime Minister of Pakistan.
During the meetings, she discussed ways to expand Malaysia’s Agri commodity market share in Pakistan, possible collaboration in research and development for the Agri-commodity sector, and the possibility of recruiting Pakistan workers to work in Malaysia’s palm oil plantation.
“I also witnessed the signing of a Memorandum of Understanding between All Pakistan Timber Traders Association and Malaysia Timber Council to increase the export of our timber products to Pakistan.
“Pakistan has been an essential and strategic trade partner for Malaysian Agri-commodity products, with a total export value of RM3.31 billion in 2021,” said Zuraida.
Malaysia’s main Agri-commodity exports to Pakistan are palm oil (RM2.92 billion), rubber (RM253.90 million), and timber products (RM82.44 million).
The total export of Malaysian palm oil and palm oil products to Pakistan of RM2.92 billion represents 88.3% of Malaysian Agri-commodities products exported to Pakistan.
