Malaysia Sun

Pakistan and Malaysia sign trade agreement

29 May 2007

Malaysia will allow import of Pakistan’s textile products free of duty under a new free trade agreement.

The agreeement which will come into effect on Jan 1 will be the Pakistan’s third bilateral trade arrangement after similar accords with Sri Lanka and China.

As a reciprocal agreement, Pakistan will allow import of Malaysian palm oil at preferential duty.

The treaty is estimated to enhance volume of trade between Pakistan and Malaysia to at least $5 billion in the next five years from the current figure of less than a billion dollars.