Malaysia Free Trade Agreement has been held in Islamabad, says an official statement. The Pakistan delegation was led by Shahid Bashir, Joint Secretary, Ministry of Commerce, while the Malaysian delegation was led by Dato' Ooi Say Chuan, Deputy Secretary General, Ministry of International Trade and Industry. The meetings were held in an atmosphere of complete cordiality and understanding and two sides made substantial headways in finalizing the draft. The Malaysians have agreed to provide market access to Pakistan's traditional items of export including Mangoes, Textiles, Leather, Surgical instruments and other agriculture and manufactured goods. The statement said that the market access secured by Pakistan through this Free Trade Agreement (FTA) will enhance its exports to Malaysia and will also bring closer the people of the two friendly countries. The draft FTA also includes a chapter on promotion and protection of investment. The FTA is expected to provide impetus for attracting the foreign direct investment from Malaysia to Pakistan. It has also been decided by the two sides to convene the meeting of the subgroup on services and rules of origin to settle the all-outstanding issues before the next Trade Negotiating Committee Meeting in mid-October. The two sides reaffirmed their desire to complete the negotiations on the bilateral FTA before the forthcoming visit of the Malaysian Prime Minister to Pakistan in November, this year.
