Pakistan : PVMA for simplifying Malaysia FTA framework
Sheikh Umer Rehan, PVMA Chairman, urged officials to engage Malaysia to resolve FTA issues and boost bilateral trade in ghee and cooking oil. Highlighting PM Shehbaz Sharif’s visit, he noted six agreements, including a $200 million Halal meat deal, strengthening economic ties and benefiting Pakistan’s edible oil industry.
KARACHI: Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA), Sheikh Umer Rehan, has urged senior officials to engage with the Malaysian government to address related issues affecting the ghee and cooking oil industry and to simplify complexities in the Free Trade Agreement (FTA) framework, which would help facilitate smoother bilateral trade.
Sheikh Umer Rehan added that expanding trade between Pakistan and Malaysia requires joint efforts from both the government and the private sector, stressing that this partnership could open up new avenues of economic growth, investment, and employment.
Welcoming Prime Minister Shehbaz Sharif’s recent visit to Malaysia, he called it a highly productive and positive development for Pakistan’s trade and industrial sectors.
He said the vegetable ghee and cooking oil industry forms the largest trade linkage between Pakistan and Malaysia, noting that Malaysia remains Pakistan’s one of the biggest suppliers of palm oil. “The edible oil trade between the two countries is worth billions of rupees,” Rehan said, adding the sector is one of Pakistan’s highest tax-contributing industries after petroleum products.
Highlighting the outcomes of the visit, Sheikh Umer Rehan said that six significant agreements were signed between Pakistan and Malaysia covering cooperation in education, tourism, Halal food, small and medium enterprises (SMEs),
and anti-corruption initiatives. He noted that the signing of a USD 200 million’s deal for Halal meat exports marked a major achievement and would further strengthen bilateral economic ties.
The PVMA Chairman emphasized that relations between Pakistan and Malaysia are based on mutual trust and cooperation.
He commended the leadership of Malaysian Prime Minister Anwar Ibrahim, expressing confidence that the renewed focus on trade and investment collaboration will create shared benefits for both nations. “This cooperation will particularly benefit the ghee and cooking oil sector, making it stronger and more efficient, while ensuring consumers receive quality products at fair prices,” he said.
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Source : Business Recorder
