by ANIS HAZIM / Pic by MUHD AMIN NAHARUL
THE Ministry of Plantation Industries and Commodities (MPIC) has invited businesses in Pakistan to enter into more joint ventures with Malaysia, mainly in the development of downstream products.
Minister Datuk Zuraida Kamaruddin said Pakistan offers much room for expansion, especially in trade as it shares common values and cultures with Malaysia.
“Pakistan is also one of Malaysia’s largest trading partners in agri-commodities, and we have several joint-venture projects, particularly in the palm oil industry at Port Qasim.
“We value Pakistan’s support and friendship and believe more should be done to increase trade activities between the two countries,” Zuraida said.
Among the developing downstream products she enticed are the oleo-chemical industry, natural rubber seismic bearing, rubberised road, timber doors, floor panels, wooden doors, premium chocolate and pepper.
During her visit to Pakistan recently, the minister also discussed ways to expand Malaysia’s agri-commodity market share in
Pakistan, the possible collaboration in research and development for the agri-commodity and the recruiting Pakistani workers to work in Malaysia’s palm oil plantation.
She also witnessed the memorandum of understanding between the Pakistan Timber Traders Association and the Malaysia Timber Council in Karachi during the official visit.
“Pakistan has been an essential and strategic trade partner for Malaysian agri-commodity products with a total export value of RM3.31 billion in 2021,” she noted.
Malaysia’s main agri-commodity exports to Pakistan are palm oil (RM2.92 billion), rubber (RM253.9 million) and timber products (RM82.44 million).
The total export of Malaysian palm oil and palm oil products to Pakistan stands 88.3% to RM2.92 billion.
Meanwhile, Zuraida also invited Pakistan to participate in the upcoming Malaysia International Agricommodity Expo and Summit from July 26 to 28, 2022, in Kuala Lumpur.