Prime Minster Imran Khan has held one-on- meeting with his Malaysian counterpart Dr. Mahatir Mohammad followed by delegation level talks in his two day visit of Malaysia. In a joint press conference, the Prime Minister articulated the reasons of his skipping Kuala Lumpur summit which was a useful forum for discussing ways and means of economic integration among the Islam countries that are endowed with rich renewable resources. He said that few Arab Friend countries had the misconception that the summit may create division in OIC.
In the delegation level meetings led by the Prime Ministers of two countries, ways and means for further expansion in bilateral relations to trade, defence, investment, education and tourism came under discussion. If formal agreements materialised then both countries will reap long term benefits. In the joint press conference the Prime Minister hinted at increasing the quantum of palm oil import from Malaysia to partially offset the losses that may be accrued to it because of India’s intention to reduce palm oil import from Malaysia. BJP government of India had shown resentment over Dr. Mahatir Mohammad critical stance on human rights violations in the occupied Kashmir and enforcement of controversial Citizens Amendment Bill, a draconian law that marginalize 200 Muslims minority in India. Currently, Pakistan imports 1.1 million tonnes of palm oil from Malaysia as compare with 6 million tonnes imports of India.
Malaysian government is keen to expand vistas of bilateral trade and investment with Pakistan. The Minister for Primary Trade and Industries Teresa Sui Sim had meeting with business community in Karachi in January and assured them of all possible cooperation for boosting bilateral trade and investment in Pakistan. Likewise, Economic Advisor to Terrangganu province, Haji Roslin Abdul Rehaman came to Karachi in January last year and met with exporters, urging them to explore possibilities of entering into $.2 billion meat market. Currently, 76 percent demand is met by imports of meat from Australia, India and Brazil. But export of ‘Halal meat’ to Malaysia could not be facilitated as livestock production did not increase due lack of short of strategies and long term planning for livestock development. Other food commodities such as citrus fruits and rice can also be exported to Malaysia if the ministry of commerce gives serious thinking to economic diplomacy, which had been outlined by the Foreign Minister in Envoys Conference in Islamabad in 2018.
The success story of economic growth model implemented in Malaysia can be applied in Pakistan as well if the highest stumbling blocks erected by successive governments of PPP and PPML-N in the way of foreign direct investment are dismantled by the present government. Lowering energy inputs prices, progressive taxation regime and skill development can attract foreign direct investment if the incumbent government breaks the cocoon of political expediency and curtail the powers of vested interest groups in decision making process.
