PM Shehbaz, Malaysian premier resolve trade issues in bilateral talks.

By Monitoring Desk.

Malaysia has agreed to adjust its tariffs on Pakistani rice imports, bringing them in line with rates applied to rice imports from other sources.

According to a media report, the decision follows recent discussions between Prime Minister Shehbaz Sharif and Malaysian Prime Minister Anwar Ibrahim.

A statement from the Prime Minister’s Office (PMO) said that PM Shehbaz expressed satisfaction over the resolution of trade issues identified during PM Ibrahim’s visit to Pakistan in October. 

However, the statement did not provide details on the specific issues resolved.

During his October visit, PM Ibrahim had expressed interest in importing 100,000 tonnes of Pakistani rice, along with meat. Pakistani officials highlighted the challenge posed by higher tariffs, which made their rice less competitive compared to Indian rice in the Malaysian market.

At that time, the price for 5% broken white rice from India was $444-448 per tonne, while similar rice from Pakistan was priced at $463-467 per tonne. 

Malaysian officials also pointed out that Pakistani exporters were demanding higher prices, further exacerbating the competitiveness gap.

The PMO statement added that PM Shehbaz expressed satisfaction with the strengthening of bilateral relations and reaffirmed Pakistan’s commitment to cooperation in areas of mutual interest. Both leaders agreed to enhance ties across key sectors.

To further advance bilateral cooperation, PM Shehbaz, accompanied by Deputy Prime Minister and Foreign Minister Ishaq Dar, is expected to visit Kuala Lumpur early next year.

Published Date: December 2, 2024