Sunday, October 25, 2020

Malaysian economic adviser welcomes Pakistan business community to Terengganu US 2 bln meat market

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
Economic Advisor to Terengganu Province in Malaysia Haji Roslin Abdul Rehman has urged the business community of Pakistan to seriously look into the possibility of exporting meat to Malaysia which is a US$2 billion market for meat only, of which only 24 percent was being supplied locally while the rest of the meat was being imported from numerous countries.

 

“Half of the demand for meat in Malaysia was being fulfilled by importing meat from Australia, Brazil, New Zealand, India, China and Thailand, which are all non-Muslim countries but not a single container of meat was being exported from Pakistan despite the fact that both Muslim countries have been enjoying excellent brotherly relations since many years”, Malaysian Economic Advisor added while exchanging views at a meeting during the visit of Malaysian delegation to KCCI.

 

President KCCI Junaid Esmail Makda, Vice President Asif Sheikh Javaid, Chairman of Diplomatic Missions & Embassies Liaison Subcommittee Shamoon Zaki, Former Vice President Agha Shahab Ahmed Khan and KCCI Managing Committee Members attended the meeting.

 

Malaysian Economic Advisor stressed that it was a very good opportunity for Pakistani meat exporters hence, they must collaborate with Malaysian business community to effectively penetrate into the Malaysian market.

 

While referring to PM Imran Khan’s visit to Malaysia, he informed that Malaysian Prime Minister Mahathir Bin Mohamad will also be visiting Pakistan in the March 2019 while the Malaysian Ministers for Religion and Agriculture will also be here who may endorse any Pakistani slaughter house or any meat processing factory intending to export meat to Malaysia.

 

He further suggested that Pakistan and Malaysia can also develop a joint global brand for export of Halal meat while Pakistani business community can also export timber products, seafood, fruits and vegetables to Malaysia.

 

Speaking on the occasion, President KCCI Junaid Esmail Makda assured the Malaysian delegates that the Karachi Chamber will certainly encourage exporters to dispatch meat to Malaysia and would also carry out a study to examine and identify the irritants responsible for zero export of meat from Pakistan to Malaysia. “Any irritant identified during the study, which might be hindering meat trade between Pakistan and Malaysia, would certainly be brought to the notice of Federal Ministry of Commerce with a request to take steps for resolving the same to facilitate the exports of meat to Malaysia”, he added.

 

He said that the meat industry of Pakistan entered the world markets long time ago where its red meat is in great demand in the international world particularly in Middle Eastern and Southeast Asian countries. “The production of quality meat is directly linked with livestock, being produced in Pakistan. With agriculture as its backbone, Pakistan is said to be the fifth largest livestock producer in the world”, he added.

 

Referring to economic relations, Junaid Makda said that both countries share healthy bilateral relations based on cooperation in different economic spheres particularly in trade and investment. “In 2017, goods exported to Malaysia were merely $166.48 million while the imports were recorded at $1,167.13 million, indicating trade balance in favor of Malaysia by $1 billion”, he added.

 

He said that KCCI wants to strengthen trade ties and exploring new bilateral trade prospects with Malaysia. “We believe Pakistan’s improved relations and enhanced trade with brotherly countries like Malaysia would ensure prosperity and create a win-win situation for both the countries”, he said, adding that Malaysian companies can choose between setting-up a liaison office, branch office or incorporate a Pakistani company as either its wholly owned subsidiary or joint venture with a Pakistani / overseas partner.

 

He opined that there was a huge potential for joint ventures and investment in the areas of Islamic Finance, Halal food industries, Energy, Low cost housing, infrastructure development, telecommunications and education etc.

 

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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