KARACHI: Malaysian Consul General Herman Hardynata Ahmad has said that bilateral trade between Pakistan and Malaysia is witnessing steady growth, with government-level discussions under way to further expand the range of Pakistani products exported to Malaysia in an effort to balance trade between the two countries.
Speaking during his visit to the Korangi Association of Trade and Industry (KATI), the consul general said that following the recent visit of the Malaysian prime minister, negotiations are continuing to enhance bilateral economic cooperation. He noted that, besides palm oil, Pakistan has strong potential to increase exports of meat, halal food products, pharmaceuticals and IT services to Malaysia.
The event was attended by KATI President Muhammad Ikram Rajput, Senior Vice President Zahid Hamid, former president Junaid Naqi, Malaysian Consulate Marketing Officer Nadir Ali, along with KATI members and other industrialists.
The consul general added that Malaysia introduced Islamic banking in 1960 and that, since then, Islamic financing, Sharia compliance and halal certification have become integral across sectors. “All trade in Malaysia is conducted in accordance with Islamic principles, which further strengthens the brotherly relations between Malaysia and Pakistan,” he said.
He further highlighted that Malaysia has a 5,400-kilometre-long coastline but, due to government restrictions on deep-sea fishing, relies on imports to meet its fish demand, which has risen significantly in recent years. He also noted that around 10 per cent of Pakistan’s palm oil requirement is currently met through imports from Malaysia.
Addressing the gathering, KATI President Muhammad Ikram Rajput said the Pakistan-Malaysia Free Trade Agreement (FTA), signed in 2007, granted tariff concessions on more than 10,000 products. However, he pointed out that Pakistan still has substantial scope to expand exports of non-traditional items beyond conventional products.
He said that following Malaysian Prime Minister Dato’ Seri Anwar Ibrahim’s visit to Pakistan in October 2024, bilateral trade recorded a noticeable increase. Several trade agreements were signed, resulting in higher exports of rice, textiles, fruits and surgical goods from Pakistan. Despite this progress, he added, overall trade volume remains below its true potential.
KATI Senior Vice President Zahid Hamid stressed that reducing tariffs, removing non-tariff barriers and simplifying customs procedures could significantly boost bilateral trade. He highlighted the strong potential for cooperation in the halal food industry, citing Malaysia’s global leadership in halal certification and Pakistan’s robust agricultural and livestock base.
He also noted that Malaysia has a strong industrial presence in electronics, auto parts and machinery, while Pakistan has a comparative advantage in textiles, leather goods and sports equipment. Establishing joint ventures and industrial zones, he said, could substantially increase exports. Hamid further emphasised that easing visa policies, increasing direct flights, and promoting tourism and educational exchanges would help strengthen bilateral ties.
Former KATI president Junaid Naqi, along with Ahsan Farooqi, Muslim Muhammadi and other industrialists, also addressed the gathering.
