PM’s Malaysia Visit Sparks New Era in Bilateral Trade

Karachi: The Pakistan Vanaspati Manufacturers Association (PVMA) has expressed strong support for Prime Minister Shehbaz Sharif’s recent visit to Malaysia, highlighting its potential to significantly enhance trade and industrial relations between the two nations. Sheikh Umer Rehan, the PVMA Chairman, underscored the pivotal role of the edible oil trade, which stands as a cornerstone of economic ties between Pakistan and Malaysia, with Malaysia being a major supplier of palm oil to Pakistan.

Rehan noted that the edible oil trade is valued at billions of rupees and is one of Pakistan’s highest tax-generating sectors following petroleum products. He welcomed the signing of six key agreements during the visit, which span cooperation in education, tourism, halal food, small and medium enterprises, and anti-corruption initiatives. Among these, a $200 million deal for halal meat exports was hailed as a significant milestone in strengthening bilateral economic relations.

The PVMA Chairman urged senior officials to engage with Malaysia to resolve issues affecting the ghee and cooking oil industry and to streamline the Free Trade Agreement framework for smoother trade exchanges. He emphasized the importance of mutual trust and cooperation in the relationship between Pakistan and Malaysia, praising Malaysian Prime Minister Anwar Ibrahim’s leadership.

Rehan highlighted that the renewed focus on trade and investment collaboration could yield mutual benefits, particularly for the ghee and cooking oil sector. He stressed the need for joint efforts from both government and private sectors to explore new economic opportunities, enhance investment, and boost employment.

Rehan assured PVMA’s full cooperation with both the Government of Pakistan and Malaysian institutions to advance exports and promote sustainable trade relations.