KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim's visit to Pakistan next week is expected to enhance economic ties between the two countries.
His three-day visit from Wednesday comes as the two counties are keen to expand their relations in a wide range of areas, including tapping into greater collaborations in the halal industry.
Pakistani High Commissioner to Malaysia Syed Ahsan Raza Shah said despite bilateral trade totalling more than US$1 billion between both countries, there were a need to renew a trade agreement and explore new avenues that could benefit both countries.
"Our bilateral trade is US$1.5 billion a year. But it is not enough. I think it is not commensurate with the levels of our diplomatic relations and needs to be greatly enhanced," he told a press briefing at the Pakistani High Commission here ahead of Anwar's visit to Pakistan.
He noted that while Malaysia's biggest exports to Pakistan include palm oil and electrical equipment, and Pakistan's largest exports to Malaysia are rice, vegetables, and textiles, the trade volume could be significantly improved.
According to Syed Ahsan , there are already talks in place to rework the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA), which was signed in 2007.
"So much time has passed that it needs to be revised and redone. We are already in negotiations, between the Investment, Trade and Industry Ministry (MITI) and Pakistan's Commerce Ministry, to revisit the agreement."
He also highlighted the potential for cooperation in the halal industry, given that Pakistan is among the largest Muslim countries.
"Being one of the largest Muslim countries in the world, one would think our participation would be very high (in the halal industry), but it is not."
Tourism is another key focus, with Malaysia being one of the sources of tourism in Pakistan.
This "halal tourism", as Ahsan put it, are leading to plans in increasing the number of direct flights between the two countries to accommodate this influx of visitors.
He said there are currently 175,000 Pakistanis in Malaysia, including 4,000 students, as Malaysia has emerged as a top destination for Pakistani students due to the high standard of education.
Highlighting the educational aspect of the visit, he said Anwar will launch a Malay translation of works by Pakistani poet-philosopher Muhammad Iqbal, while a translation of the Madani book into Urdu will also be launched.
The visit will also see the prime minister addressing students at the National University of Sciences and Technology (NUST).
"I'm sure the visit will be successful in enhancing bilateral cooperation," said Ahsan.
On Aug 31, the Malaysian High Commissioner to Pakistan Datuk Mohammad Azhar Mazlan said that the visit is expected to elevate Malaysia and Pakistan's partnership to the next level, fostering greater cooperation for mutual benefit between our nations.