Pakistan, Malaysia to sign joint ventures in diverse sectors: Dawood

Pakistan, Malaysia to sign joint ventures in diverse sectors: Dawood

Advisor to Prime Minister on Commerce and Investment Abdul Razzak Dawood has said that Pakistan and Malaysia will sign joint ventures worth millions of dollars in telecommunication, technology, automobiles and halal food sectors.

He was addressing a press briefing along with Chairman Board of Investment Haroon Sharif on "Visit of Malaysian Prime Minister" in Islamabad on Thursday.

Abdul Razzak Dawood said various Memorandums of Understanding will be signed during the visit of Dr Mahathir Muhammad.

He said Pakistan greatly values transfer of technology and knowledge sharing partnership with Malaysia to increase its productivity, develop human resource and technology base and to open a gateway to the East Asian economies.

He said both countries will begin a transformational relationship on long-term base. He said a signing ceremony of MoUs will be held in Islamabad tomorrow which will be attended by Prime Ministers of both countries. He said the event will also attended by top business leaders and policymakers of both countries.

Abdul Razzak Dawood said Malaysia is providing an opportunity to Pakistan to open up the ASEAN market for trade and investment through strategic partnerships. He said ASEAN is a market of 651 million people with GDP of 3 trillion dollars and high human development index.

He said Pakistan is ready to tap one of the largest commercial hubs of the world as ASEAN has good trade volume of around 2.6 trillion, services volume of around 703 billion dollars and 136 billion dollars in Foreign Direct Investments.

Speaking on the occasion, Chairman Board of Investment Haroon Sharif said the government will provide all possible facilities to foreign investors with security. He said we should adopt and follow international standards to increase our exports in different sectors.

He said Pakistan is already exporting Halal Foods to Saudi Arabia, UAE, Qatar and other countries and it will be further boosted after agreements with Malaysia.

Source: Radio Pakistan