Roadmap set to boost trade with Malaysia

Islamabad: Pakistan and Malaysia reached an agreement on Friday to establish a roadmap aimed at strengthening their trade and investment relations, during a business conference. Malaysian High Commissioner Dato Mohammad Azhar Mazlan, who spearheaded the 'Malaysia-Pakistan Business Engagement 2026', highlighted the potential to boost bilateral trade from $1.5 billion to $5 billion through intensified commercial activities and increased private sector involvement.

Emphasizing the importance of converting the longstanding friendship into robust trade and investment partnerships, Mazlan identified artificial intelligence, education, manufacturing, and services as areas ripe for collaboration. He underscored Pakistan's strategic position as a major South Asian trading partner, citing its geographical location as a gateway to Central Asian markets and its youthful demographic as key advantages.

Referring to the edible oil and halal products sectors, Mazlan urged Pakistani businesses to explore Malaysia, citing successful joint ventures such as Malaysian investment in halal gelatine production as examples of fruitful cross-border collaborations. Speaking at the conference, Minister for Investment Qaiser Ahmed Sheikh affirmed the substantial potential for Pakistan and Malaysia to expand commercial engagement, forge joint ventures, and enhance their presence in regional and global markets.

He pinpointed sectors like information technology, artificial intelligence, advanced technology, manufacturing, value-added industries, mining and minerals, agriculture, food processing, and halal products as ripe for joint ventures. Sheikh noted that Malaysia's technological prowess could complement Pakistan's abundant natural resources, workforce, and vast consumer market.

He added that Pakistan warmly welcomed high-quality Malaysian investment that could foster industrial development, technology transfer, employment generation, and export growth.