Malaysian PM visits Islamabad: Pakistan aims for $200 million in Halal Meat Exports to Malaysia

Pakistan and Malaysia reaffirmed their commitment to strengthening economic cooperation and enhancing bilateral trade relations, during delegation-level talks held in Islamabad on October 3, with Prime Minister Shehbaz Sharif and Malaysian Prime Minister Dato’ Seri Anwar Ibrahim leading their respective delegations.

The two leaders emphasized the importance of regular high-level exchanges, strategic dialogue, and the strengthening of institutional mechanisms.

“This visit to Pakistan is highly significant,” emphasized Prime Minister Anwar Ibrahim while noting that discussions covered a wide range of topics, including economic zones, trade markets, and broader strategic issues.

During the talks, the two premiers exchanged views on important regional and global developments, including the situation in Palestine and the Middle East. Both leaders also welcomed the rise in tourism between their countries and agreed to expand aviation cooperation, as well as enhance bilateral business-to-business exchanges.

Trade and defense cooperation

A major area of focus during the talks was enhancing cooperation in the processing of Halal products. Pakistan offered to increase the export of Halal meat to Malaysia, with Prime Minister Shehbaz Sharif proposing to raise the export value to $200 million annually. “As a result of our discussions, Malaysia has agreed in principle to import 100,000 tonnes of halal meat and basmati rice from Pakistan,” said Prime Minister Anwar Ibrahim.

One of the key outcomes of the meeting was the agreement to convene an early Joint Review Committee session to comprehensively evaluate the Malaysia-Pakistan Comprehensive Economic Partnership Agreement (MPCEPA). This agreement, originally signed on November 8, 2007, in Kuala Lumpur, has been the cornerstone of economic relations between the two nations.

Malaysian Prime Minister Anwar Ibrahim and Pakistan Prime Minister Shehbaz Sharif
Malaysian Prime Minister Anwar Ibrahim and Pakistan Prime Minister Shehbaz Sharif during the Malaysia-Pakistan High Level Business Dialogue in Islamabad on October 3, 2024. (Image Credit: APP)

Additionally, the two leaders reaffirmed their strategic defense partnership, rooted in the Memorandum of Understanding on Defence Cooperation signed on August 1, 1997. Prime Minister Shehbaz welcomed Malaysia’s decision to send a high-level delegation to participate in IDEAS 2024, Pakistan’s premier defense exhibition.

Eucational and Tech collaboration

The talks also focused on enhancing educational cooperation, with both sides agreeing to strengthen linkages between institutions of higher learning and vocational training. In line with Malaysia’s need for skilled labour, Prime Minister Anwar emphasized the country’s demand for professionals in sectors such as information technology, digital innovation, and artificial intelligence.

“Malaysia is a hub for the semiconductor industry, and we should explore collaborative opportunities in this sector,” he added.A Letter of Cooperation was signed between the Pakistan Telecommunication Authority and the Malaysian Communications and Multimedia Commission to strengthen telecommunications collaboration.

Signing of MoUs

The talks concluded with the signing of several important agreements. These included a Memorandum of Understanding (MoU) between the Trade Development Authority of Pakistan and the Malaysia External Trade Development Corporation to boost trade cooperation, and another MoU focusing on Halal trade between the Pakistan-Malaysia Business Council and the Malaysia-Pakistan Business Council.

  • Fauji Meat Limited and NSK signed a Letter of Intent (LOI) for a profit-sharing partnership in the distribution, wholesale, and retail of meat.
  • Gobi VC Investment Fund committed $300,000 to Qistbazar and announced plans to raise a $50 million fund to support Pakistani startups.
  • SNA Equity invested $5 million in Gamalux Pakistan, with a total investment goal of $15 million by 2026.
  • Pakistan and Malaysia’s Business Councils signed an MoU to enhance cooperation in halal trade.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

17,828FansLike
11,620FollowersFollow
17,266FollowersFollow

Latest Articles