Malaysian and Pakistani prime ministers agree to boost trade and economic ties
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This article was published 03/10/2024 (728 days ago), so information in it may no longer be current.
ISLAMABAD (AP) — The prime ministers of Malaysia and Pakistan agreed in talks Thursday to increase bilateral trade and boost economic ties between their nations.
The announcement by Anwar Ibrahim and his Pakistani counterpart, Shehbaz Sharif, followed talks in Islamabad on how to further strengthen the two nations’ cooperation in diverse fields, including energy, agriculture, connectivity and tourism.
Ibrahim arrived Wednesday for a three-day visit to Pakistan. Bilateral trade between the two sides in the fiscal 2023-2024 year was at $1.5 billion.
According to a government statement on Thursday, “the two sides agreed to strengthen bilateral economic cooperation, enhance trade, remove barriers in key sectors, provide a level playing field, and address the trade imbalance”.
Cash-strapped Pakistan, which recently got a $7 billion new loan from the International Monetary Fund, has also been trying to increase trade with Middle Eastern and Western nations.
However, the predominantly Muslim nation of 240 million people is also facing deepening political turmoil as supporters of imprisoned former Prime Minister Imran Khan have been rallying for his release. Another demonstration by Khan’s supporters is planned for Friday in thee Pakistani capital.
Khan has been held in prison since last year and he has been embroiled in more than 150 cases since his ouster in a no-confidence vote in the parliament in 2022.