ISLAMABAD: Malaysian Prime Minister Anwar Ibrahim on Monday expressed hope for increased Pakistani investment, noting it had grown to nearly $397 million in recent years, as the two countries look to deepen economic and diplomatic ties.
Ibrahim’s comments came shortly after a phone conversation with his Pakistani counterpart Shehbaz Sharif, during which both leaders exchanged Eid Al-Fitr greetings and reaffirmed their commitment to further strengthen bilateral relations.
Sharif is expected to travel to Kuala Lumpur in May on an official visit, following Ibrahim’s three-day trip to Islamabad last October. That visit saw the signing of several memoranda of understanding between the two sides and the conferment of Pakistan’s highest civilian award, the Nishan-e-Pakistan, on the Malaysian leader.
“This evening, I spoke with my counterpart from Pakistan, Shehbaz Sharif, exchanging and reaffirming our commitment to strengthening Malaysia-Pakistan ties,” Ibrahim wrote in a post on social media platform X. “Our friendship continues to deepen, opening new avenues for cooperation, particularly following my visit to Pakistan last October.”
“Pakistan’s investments in Malaysia have grown to approximately $397 million, and I welcome further investments, especially in agriculture, petrochemicals and biomass industries,” he said.
The two leaders also reviewed collaboration in trade, education and research while agreeing to expedite pending matters to advance shared goals, Ibrahim added.
The Malaysian prime minister said the conversation also covered the ongoing conflict in Gaza, where “Israel’s violations of the ceasefire continue to undermine peace efforts.”
Both leaders discussed coordinated efforts to support reconstruction in the besieged territory and to end the violence against Palestinians.
“I look forward to welcoming Prime Minister Shehbaz on his maiden visit to Malaysia on 9 May,” Ibrahim said, expressing his hope that the partnership would continue to strengthen for the benefit of both nations.
Pakistan and Malaysia have long maintained cordial relations, with both countries working to expand cooperation in various sectors.
The renewed outreach comes as Islamabad intensifies its economic diplomacy to attract foreign investment and revive its struggling economy.
Malaysia PM seeks deeper economic ties as investment from Pakistan hits $397 million
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Malaysia PM seeks deeper economic ties as investment from Pakistan hits $397 million
- Anwar Ibrahim wants more Pakistani investment in agriculture, petrochemicals and biomass industries
- He says his government is looking forward to PM Shehbaz Sharif’s official visit to Kuala Lumpur in May
Pakistani, Uzbek leaders urge business community to help achieve $2 billion trade target
- Pakistan and Uzbekistan have steadily increased economic ties in recent years, with bilateral trade volume reaching nearly $500 million
- President Shavkat Mirziyoyev says business community is ‘most important bridge’ linking both nations, promising favorable business climate
ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif and Uzbekistan President Shavkat Mirziyoyev on Friday urged businesspersons from both countries to help the two countries achieve a bilateral trade target of $2 billion within the next five years.
The two leaders made the call while addressing traders, industrialists from both countries at the Pakistan Uzbekistan Business Forum in Islamabad during President Mirziyoyev’s visit to the South Asian country.
Pakistan and Uzbekistan have steadily increased economic ties in recent years as Pakistan offers landlocked Central Asian states greater access to global markets, aiming to position itself as a regional transit hub.
Pakistan was the first Central Asian partner with which Uzbekistan signed a bilateral Transit Trade Agreement, along with a Preferential Trade Agreement in March 2022, covering 17 items, which became operational in 2023.
“We agreed that political goodwill must be matched by economic actions and words must be converted into implementation,” Sharif said, citing his visit to Tashkent last year which had helped brought annual bilateral trade to nearly $450 million.
“Today, ladies and gentlemen, we will strengthen last night’s protocol by signing another document today, which will give you vistas of opportunities to sit down together, B2B (business to business), have wonderful discussions with your counterparts and come to arrangements in terms of joint ventures, investments in Uzbekistan and Pakistan.”
Sharif was referring to the protocol signed between the two countries on Thursday to establish a joint working group to formulate a five-year action plan to take bilateral trade to $2 billion. Both sides also signed 28 agreements focused on areas such as defense cooperation, climate change, disaster risk reduction, disaster management, agriculture, exports of fruits, and mining and geosciences.
President Mirziyoyev said the increase in bilateral trade to half-a-billion dollars was an outcome of their talks held in Tashkent in Feb. last year.
“Over the course of very comprehensive and detailed discussions yesterday, we together decided that this is far [from] being enough,” he told businessperson from both countries.
The Uzbek president said business community is the “most important bridge” in linking the two nations and it was their job as heads of the state to ensure favorable conditions for them.
“Success of this agreement is in your hands,” he told the attendees, assuring them of eliminating any obstacles and bottlenecks in the process.
Later, Pakistan President Asif Ali Zardari conferred the Nishan-e-Pakistan, the highest civilian award of the country, on President Mirziyoyev at a televised ceremony.
The Nishan-e-Pakistan is awarded to individuals who have rendered services of highest distinction to the national interest of Pakistan and has often been conferred on visiting Heads of State as a mark of respect and friendship.
