Malaysian CG underscores need to review 15-year-old FTA.

KARACHI -- Consul General of Malaysia Herman Hardynata Bin Ahmad has said that Malaysia and Pakistan, in addition to having several multilateral agreements as members of UN, OIC and D-8, had also signed 20 bilateral agreements including a Free Trade Agreement (FTA) but this 15-year-old FTA, which was inked in 2008, needs to be reviewed with a view to further improve the existing trade ties between the two brotherly countries. He said that Former PM Imran Khan and Former Malaysian PM Mahathir Mohamed agreed in 2019 to review the FTA but due to political hiccups in both countries, this review could not take place. 'As PM Shehbaz Sharif is in-charge of the country's affairs now and Malaysia is also about to elect its new Prime Minister, we hope that the pending review of the FTA will be taken up by both the government', he added while exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI).

President KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Mohammad Haris Agar, Former SVP Arshad Islam, Former VP Shamsul Islam Khan and KCCI Managing Committee Members attended the meeting.

Malaysia CG said, 'Of course, there are challenges when we try to enhance trade but these can be tackled through joint efforts. Malaysia has the advantage of being a member of Association of South East Asian Nations (ASEAN) so we always offer our trading partners to use Malaysia as gateway for accessing the ASEAN market.'

Commenting on President's KCCI remarks about reservation of 3,000 acres of land by Sindh government for plantation of palm oil trees, he said that it was a good investment opportunity for Malaysian companies who were always looking forward to make investments outside because the Malaysian market was overcrowded now. 'Malaysian investors have already established units in China so they can also look into the possibility of investing in Pakistan as well.' He said that Malaysia currently faces dire shortage of manpower and was ready to welcome more workforce from Pakistan as currently, out of total assigned quota of 100,000 workers to Pakistan, only 3,000 Pakistani workers were present in Malaysia. 'We would certainly welcome Pakistani workers to support our industries, manufacturing, construction and agriculture sectors', he said, adding that in addition to these...