President Perbadanan Usahawan Nasional Berhad (PUNB), Mr. Dato Haji Ahmad Nazlan bin Idris, said on Tuesday that Malaysia was making serious efforts to alleviate supply chain issues as a result of the pandemic and in this regard , preference would be given to purchasing the products directly from Pakistan.
FAISALABAD, (UrduPoint/Pakistan Point News – June 21, 2022): President Perbadanan Usahawan Nasional Berhad (PUNB) Mr. Dato Haji Ahmad Nazlan bin Idris said on Tuesday that Malaysia is making serious efforts to alleviate the problems of the chain of supply in the wake of the pandemic and in this regard, preference would be given to purchasing the products directly from Pakistan.
Addressing the Faisalabad business community at the Faisalabad Chamber of Commerce and Industry (FCCI) with a delegation of Malaysian entrepreneurs, he said that the Malaysian delegation had already visited Pakistan Agri Expo 2022 in Lahore and that we are now visiting Faisalabad to identify new suppliers for the Malaysian markets.
He said that the Malaysian delegation is made up of representatives from the food, textile and industrial sectors, but we intend to buy fresh food and vegetables, including potatoes, onions and frozen meat.
“Similarly, we are also trying to source raw materials for textile products used in home, hotel and hospitals in addition to garments,” he said and added that our entrepreneurs would also explore new opportunities. investment in Faisalabad. On the post-coronavirus impacts, PUNB Chairman Haji Ahmad said the global economy is being disrupted due to the disruption in the supply chain.
He said the situation is now back to normal and we are exploring new destinations to shop with minimal transportation costs. He was optimistic that this visit by the Malaysian delegation would also boost bilateral trade between the two countries.
FCCI Chairman Atif Munir Sheikh said in his speech that Faisalabad is strategically located in the heart of the country and connected by reliable air, rail and road links. He said Faisalabad has state-of-the-art industrial areas.
Atif said M3 and Allama Iqbal Industrial Estate had been granted special economic zone status to provide a ten-year tax exemption for new investors.
The president said 65 industrial units are operating and contributing to a major role in improving national exports. On the fully developed textile sector, he said Faisalabad alone accounts for 45% of Pakistan’s total textile exports. “Similarly, its share in overall exports was 22% while it also met 80% of the country’s domestic apparel needs,” he said and added that the FCCI had 8,000 members drawn from 72 different sectors and businesses.
He said that we signed the Free Trade Agreement (FTA) but could not fully exploit its potential.
Atif Munir said that 28 FCCI members are already doing business with Malaysia, but their number needs to be increased to improve our overall trade volume.
Executive Member Muhammad Azhar Chaudhry made a comprehensive presentation on business opportunities between Pakistan and Malaysia and said that Faisalabad produces quality products and we hold “Made in Faisalabad Expo” every year to showcase our products.
He said the expo could also be held in Malaysia to give a quantum leap to our bilateral trade.
Muhammad Azhar particularly mentioned Hilal’s fast growing markets and said its volume is expected to grow to 3 trillion in 2023. He said we need to collaborate to get the lion’s share through branding.
Former President of Faisalabad Dye and Chemical Merchants Association, Mr. Rashid Munir presented a shield to Haji Ahmad and presented gifts to FCCI President, Mr. Atif Munir Sheikh.
Later, Business-to-Bussines (B2B) meetings were held between FCCI members and Malaysian delegates.