ISLAMABAD, March 20 (APP):The top ten Malaysian business giants are arriving in Islamabad along with Malaysian Prime Minister Dr Mahathir Muhammad for participating in Pak- Malaysia Business Leaders’ Round Table, scheduled to be held on Friday, March 22.
Representatives from different business sectors including telecom, Halal meat and automobile would participate in the moot, Board of Investment Chairman Haroon Sharif Wednesday told APP.
He said the private sector from both the countries would discuss issues of mutual interest, besides exploring opportunities and potential of various sectors of economy for mutual cooperation.
BoI chairman said as many as three memorandum of understanding would be signed on this occasion aimed at increasing cooperation in telecom; information technology and agriculture and food sector.
He said Malaysia and Pakistan were enjoying historical cordial relations in diplomatic, economic and trade, adding there was need to expand bilateral trade between the two countries.
Replying to a question, he said Pakistan and Malaysia were the first two Islamic countries that signed the Free Trade Agreement (FTA ) to enhance the bilateral trade.
He said Malaysia Pakistan FTA formally known as the Malaysia Pakistan Closer Economic Partnership Agreement was signed in 2007.
The aim of the FTA was to promote bilateral trade between the two countries by offering tariff preferences on various trading items.
The FTA was one of the most comprehensive agreements Pakistan had signed and covered trade in goods, services, investment and economic cooperation, Haroon added.
He said there was a need to intensify efforts for improving bilateral trade between Pakistan and Malaysia that would be beneficial for economic of both the countries.
He said tremendous trade and investment potential exists between the two counties particularly in the fields of halal food, tourism, telecommunication and renewable energy. He said this potential needed to be exploited for the mutual interest.