Malaysia to set up car plant in Pakistan: PM Dr. Mahathir

Prime Minister Imran Khan has said Pakistan and Malaysia have set up a permanent ministerial level committee that will meet regularly to keep enhancing trade between the two countries.Addressing Round Table meeting of the CEOs of Industries in Islamabad on Friday, he said under the vision and leadership of Dr. Mahathir Mohamad Malaysia achieved autarky and prosperity which is a role model for many Islamic countries.

The Prime Minister said Dr. Mahathir Mohamad commands so much respect in Pakistan and it is a great honor for us that he is attending the Pakistan Day ceremony.In his address, Malaysian Prime Minister Mahathir Mohammad said the meeting has provided an opportunity to the Pakistani and Malysian businessmen and investors to understand each other and promote their business.

Dr. Mahathir Mohammad presented a history of Malaysia’s march from poverty at its independence to its present ndustrial development. He said Maysia made its industrial development possible only by promoting foreign investment and imparting knowledge and know-how to its people.The Malaysian Prime Minister said his country can buy from Pakistan and also export its products to the country.

He said his country plans to set up a Proton car manufacturing unit in Pakistan, which will start production in Jue next year. He also presented a gift of Proton car to Prime Minister Imran Khan on this occasion.He said Malaysia is a trading nation and it does not have enmity with any other country, except Israel as it has usurped the land of Palestinians and expelled them from their country.

On this occasion, Pakistani and Malaysian firms signed six Memorandums of Understanding for joint venture in IT, Telecommunication and car manufacturing.It was announced that two other MoUs will soon be signed between investors of the two countries in and Halal food production.

Earlier, Adviser to Prime Minister on Commerce Abdul Razak Dawood says Pakistan and Malaysia have expressed their readiness to collaborate with each other in exploring Halal food industry, which has a potential of one trillion dollar throughout the world.

He said there are 1.3 billion Muslims in the world and Halal food industry can capture a big business while catering to their dietary needs.He said Pakistani food industry can learn a lot from Malaysian experience in Halal food industry.The Adviser said the two sides have, in their talks, agreed to further increase their bilateral trade volume for the mutual benefit of the two countries.

He said presently the Malaysian exports to Pakistan are about one billion dollars while Pakistani exports to Malaysia are one hundred and thirty million dollars.Abdul Razak Dawood said both sides are committed to developing their existing relations and economic cooperation to the mutual advantage of the two countries.

In his address, Chairman Board of Investment Haroon Sharif said Pakistan and Malaysia are committed to transforming their bilateral relations into business transaction.He said that during the visit of Prime Minister Imran Khan to Kuala Lumpur, ten Malaysian investors had agreed to invest in Pakistan, four of whom have come to Pakistan with Prime Minister Mahathir Mohammad while the remaining have already worked out business transactions in Pakistan.