Pak-Malaysia stresses enhancing trade, economic relations
05 November, 2006
ISLAMABAD: Shaukat Aziz, Prime Minister and his Malaysian Counterpart Abdullah Ahmed Badawi stressed upon the need at enhancing bilateral trade and economic ties. In his address at the reception banquet on Saturday in honour of the visiting Malaysian dignitary here for the 2nd World Islamic Economic Forum (WIEF) scheduled to kick start from November 5 (today), Prime Minister Shaukat Aziz stressed upon the need of reinforcing the religious,historical, and cultural commonalities as well as shared aspirations forpeace and development between the two countries. Referring to the cooperation that has accelerated in the last two years in the context of OIC, NAM membership and close relationship within ASEAN the PM mentioned of the efforts made towards barrier free trade. He mentioned of the Early Harvest Programme that has been signed and the negotiations that are underway for finalizing a Free Trade Agreement. "We are confident that these important measures will bring about an upward surge in our bilateral economic relations, especially the volume of trade", he maintained. He hoped for further investment in the country from the Malaysian companies already busy especially in the energy and construction sectors. Hailing the recent developments between the two countries, PM Shaukat Aziz said, " a significant development in bilateral cooperation is the recent agreement under which 100,000 Pakistani workers will fulfill the Malaysian manpower requirement." He expressed his hope for investment of Malaysian banks and other services sector groups in Pakistan. Shaukat Aziz specifically mentioned of the 'Vision East Asia' Policy for building close political and economic ties with the countries of region. He made special mention of the Malaysian support in Pakistan acquiring membership of ASEAN Regional Forum and the Asia-Europe Meeting. He further expressed his hope for the continued backing from Malaysia for becoming a Full Dialogue Partner of ASEAN as well as a member of APEC and the East Asia Summit. Pakistan's role in combating terrorism is acknowledged by the international community, he maintained. The PM said, "The Muslim world is faced with a new challenge due to the attempts to distort and malign the teachings of Islam and the false notion of a Clash of Civilizations peddled by vested interests. There is an imperative need to vigorously counter such prejudices". Appreciating his Malaysian counterpart he said, "A tribute is due to Prime Minister Badawi for chairing, most ably, the OIC in these most challenging times". Prime Minister Shaukat Aziz reiterated government commitment towards further strengthening and expanding cooperation between the two countries. Meanwhile Abdullah Ahmad Badawi, Prime Minister of Malaysia in his address to the gathering congratulated Pakistan for the initiative of holding the 2nd world Islamic Economic Forum. The Malaysian Premier termed his visit to be of vital significance in the bilateral context. The Malaysian PM delegation consists of five ministers of the Malaysian cabinet and many other senior government officials. He maintained, "A number of agreements and M.O.Us covering cooperation in tourism, counter-terrorism and partial abolition of visa arrangements are being negotiated for signing by both countries". "These world further enhance our bilateral collaboration in various matters and bring our two countries closer together", he hoped. Ahmed Badawi said that Pakistan being the second biggest trading partner of the country in the South Asian region is of vital significance. He expressed his hope that Free Trade Agreement (F.T.A) between the two Countries would be inked by the end of the year, and get implemented in 2007. He expressed his pleasure regarding the signing of the M.O.U today (Sunday) between the International Center for Education in Islamic Finance of Malaysia and the National Institute of Banking and Finance of Pakistan. "With the signing of the M.O.U. both our countries will be able to upgrade knowledge and expertise in the realm of Islamic Finance", he maintained. Hailing the economic growth achieved by Pakistan and as a fast growing investors haven the Malaysian Prime Minister looked forward for further collaboration between the two countries for bilateral, regional and global interests.
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