The Malaysia External Trade Development Corporation (MATRADE) and High Commission of Pakistan Malaysia jointly organised a seminar on ‘Doing Business with Pakistan on 21st December in Kuala Lumpur. The seminar saw participation of over 200 Malaysian companies and Pakistani businessmen.
Speaking at the seminar, the High Commissioner of Pakistan in Malaysia, Syed Hassan Raza said that both countries are negotiating to further reduce duties on existing and additional tariff lines to facilitate businesses under the Free Trade Agreement (FTA). The High Commissioner highlighted the investment opportunities and trade potential in Pakistan and informed the participants that there were numerous opportunities for the companies in both countries, having FTA since 2008.
The current trading basket of both the countries is limited to Palm oil, fibre board, rubber electrical and electronic equipment from Malaysia while from Pakistan main items exported are cotton, textile, rice, maize, vegetables. On investments, Raza mentioned that present investment regime is the most liberal in the region. Foreign equity could be 100 per cent owned by foreign investor and there were no restriction on repatriation of profits/royalties almost all sectors are open for investment and one-window facilitation were some of the highlights of new policy. He emphasized that Pakistan was a stable, peaceful and welcome foreign investors to visit any part of the country.