ISLAMABAD: Pakistan and Malaysia have reaffirmed to strengthen bilateral economic cooperation, enhance trade, remove barriers in key sectors, provide level playing field, and address the trade imbalance.
The understanding to this effect reached at delegation level talks between the two countries in Islamabad today. Prime Minister Shehbaz Sharif and his Malaysian counterpart Dato' Seri Anwar Ibrahim led their respective sides.
In this context, both sides agreed to an early Joint Review Committee meeting for a comprehensive evaluation of the Malaysia-Pakistan Comprehensive Economic Partnership Agreement with the view to further strengthening the bilateral economic partnership. The Malaysia-Pakistan Comprehensive Economic Partnership Agreement was signed on November 8, 2007 in Kuala Lumpur.
The two Prime Ministers noted the historic and fraternal ties between Pakistan and Malaysia and emphasized the importance of regular high-level exchanges and strategic dialogue and strengthening of bilateral institutional mechanisms.
Both sides agreed to enhance cooperation in processing of Halal products. The Pakistan side offered to increase export of Halal meat to Malaysia to meet their demand. Prime Minister Muhammad Shehbaz Sharif gave proposal of increasing export of Halal meat from Pakistan to Malaysia to 200 million dollars per annum.
The two sides further reaffirmed their strategic partnership and the importance of bilateral defence exchanges, rooted in the MoU on Defence Cooperation signed on First August 1997. Prime Minister Shehbaz Sharif welcomed Malaysia's decision to send a high-level delegation to participate in IDEAS 2024.
Both the sides agreed on the need to enhance educational linkages and cooperation between the institutes of higher learning and technical and vocational training.
They recognized the importance of the tourism industry and youth exchanges in promoting people-to-people contacts, sustainable socio-economic growth, and in fostering mutual understanding between Pakistan and Malaysia.
They welcomed the increase in tourism between the two countries and agreed to expand aviation cooperation and enhance bilateral business-to-business exchanges.
The two sides also exchanged views on important regional and global developments including the situation in Palestine and the Middle East.
The two Prime Ministers witnessed exchange of signed Memorandums of Understanding and a Letter of Cooperation.
This included MoU between Trade Development Authority of Pakistan and Malaysia External Trade Development Cooperation on trade cooperation, and MoU for cooperation in Halal trade between Pakistan-Malaysia Business Council of Pakistan and Malaysia-Pakistan Business Council of Malaysia.
A Letter of Cooperation between Pakistan Telecommunication Authority and Malaysian Communications and Multimedia Commission was also signed.
Prime Minister Shehbaz Sharif also hosted a luncheon in honour of the Malaysian Prime Minister and accompanying delegation.
