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New Policy Set To Boost Pakistan Trade With Malaysia

News From : DagangHalal.com (30 Jul 2009)

KUALA LUMPUR, July 30 (Bernama) — Pakistan’s new trade policy for 2009-2010 is expected to deepen and diversify its exports to major trading partners like US and European Union, as well as countries with which it has signed a free trade agreements such as Malaysia, China and Sri Lanka.

In a statement here Thursday, Pakistan’s High Commission in Malaysia said the policy, which was unveiled yesterday, would encompass a provision of insurance cover for visiting buyers to restore investor confidence.

Its High Commissioner to Malaysia, Lt-Gen (Rtd) Tahir Mahmud Qazi, said Pakistan would launch various measures to reduce the cost of doing business.

“Among them are a scheme to compensate inland freight cost to traders of cement, light engineering, leather garments, furniture, soda ash, hyydrogen peroxide, sanitary wares including tiles, finished marble/granite/onyx products,” he said.

Tahir said to encourage trade with Malaysia, Pakistan has proposed zero Custom duty on import of man-made fibres other than polyester staple fibre besides and that for sizing chemicals would be withdrawn.

He said to facilitate seafood imports from Pakistan, a grant 25 percent freight subsididy would be offered.

Tahir said there was a huge scope for Malaysia and Pakistan to forge strategic ties to develop halal business.

“In this regard, Pakistan’s Ministry of Science and Technology will set up a Halal Certification Board,” he said.

He said until the board was set up, the government would subsidise the cost of certification by 50 percent.

— BERNAMA

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