Shehbaz Sharif: Pakistan, Malaysia Aim for a Sustainable Economic Partnership

We aim to transform the strong relations between Pakistan and Malaysia into a sustainable partnership: Prime Minister Shehbaz Sharif addresses the “Pakistan-Malaysia Business and Investment Conference”
Kuala Lumpur, October 6 (Nazrana News) Ali Imran Chattha 
 

Prime Minister Muhammad Shehbaz Sharif has said that Pakistan wishes to turn its strong ties with Malaysia into a sustainable partnership, as business relations are in the mutual interest of both countries. He emphasized the need to further enhance cooperation in various sectors, stating that the private sector can play a vital role in this regard.
He expressed these views while addressing the “Pakistan-Malaysia Business and Investment Conference” on Monday, which was also attended by Malaysian Prime Minister Anwar Ibrahim.
The Prime Minister said Pakistan and Malaysia share deep, long-standing, and brotherly relations spanning decades. He noted that his discussions with Prime Minister Anwar Ibrahim were highly constructive, and both sides agreed to promote business and investment ties. He appreciated Anwar Ibrahim’s keen interest in strengthening economic cooperation between the two nations.
Shehbaz Sharif said Pakistan’s economy is primarily based on agriculture, and the country exports agricultural products to Malaysia and several other nations. He highlighted that Pakistan has a young population, which can be turned into a productive workforce by providing opportunities in modern technology and artificial intelligence.
He mentioned that Pakistan has immense potential in the tourism sector, with attractions such as Gilgit-Baltistan, Hunza, Nanga Parbat, and K2, which captivate visitors from around the world. He suggested that Pakistani and Malaysian companies should collaborate to promote tourism, as cooperation in this sector could prove to be a game-changer.
The Prime Minister proposed that Pakistan and Malaysia could jointly provide skilled manpower to Gulf countries through joint ventures. He informed participants that Pakistan’s economy is on a path to recovery, with significant reductions in inflation and policy rates, adding that in the next two years, Pakistan would no longer need an IMF program. “If Pakistan and Malaysia move forward together, we can bid farewell to the IMF,” he remarked.
Praising Anwar Ibrahim’s visionary leadership, Shehbaz Sharif said Malaysia has achieved remarkable progress under his guidance. “He understands business and can play a pivotal role in strengthening economic ties between our countries,” he added.
He reiterated that Pakistan seeks to transform its strong bilateral relations with Malaysia into a durable partnership, emphasizing cooperation in IT, electronics, oil and gas, and other key sectors.
Highlighting Pakistan’s agricultural strength, he said the country ranks fifth globally in milk and cotton production and fourth in mango production. He noted that Pakistani mangoes are of premium quality, and there is great international demand for Pakistani fruits, vegetables, and processed food products.
Shehbaz Sharif thanked Prime Minister Anwar Ibrahim for increasing Malaysia’s Halal meat import quota from Pakistan to USD 200 million, assuring that Pakistan would fulfill its commitments in this regard.
He said the government is ensuring a business-friendly environment, inviting Malaysian skilled professionals to explore attractive investment opportunities in Pakistan’s mining sector, particularly in projects like Reko Diq in Balochistan. Malaysian companies, he added, can also use Pakistan as a gateway to Gulf markets.
The Prime Minister said that while governments play a crucial role in providing a business-friendly environment, it is the private sector that must take the lead. Joint ventures, B2B partnerships, and technological collaboration between the two countries’ private sectors would bring mutual benefits.
In his address, Malaysian Prime Minister Anwar Ibrahim said Malaysia is eager to expand trade relations with Pakistan, emphasizing that ASEAN provides a strong platform for achieving economic growth and regional prosperity. He noted that economic freedom in the region can only be achieved through enhanced trade and that ASEAN membership should continue to expand over time.
Anwar Ibrahim said there are vast opportunities for cooperation between Malaysia and Pakistan, and the two countries need to strengthen business-to-business linkages. He added that Malaysia’s markets are open for Pakistani companies and that thousands of Malaysian students are currently studying in Pakistan.
He also praised Pakistan’s founder, Quaid-e-Azam Muhammad Ali Jinnah, calling him a “great visionary leader,” and assured that any barriers to bilateral trade would be addressed in collaboration with Prime Minister Shehbaz Sharif. He concluded that the main driving force behind expanding bilateral relations is economic development, and he appreciated Prime Minister Shehbaz Sharif’s vision for playing a key role in Pakistan’s progress.