Malaysia ready to renegotiate FTA

Malaysia’s High Commissioner to Pakistan, Dato’ Mohammad Azhar Mazlan, announced on Friday that Pakistan and Malaysia will soon begin renegotiating their bilateral Free Trade Agreement (FTA), aiming to strengthen economic cooperation and trade ties. Pakistan’s Commerce Minister, Jam Kamal Khan, will represent Pakistan in the discussions, which will include updates to the FTA and broader economic topics relevant to both countries.

The announcement was made at an event hosted by the Malaysian High Commission in Islamabad, attended by more than 50 prominent Pakistani industry leaders and stakeholders. The gathering, organised in response to Malaysian Prime Minister Anwar Ibrahim’s recent visit to Pakistan, focused on enhancing trade, investment, and business collaboration. Mazlan underscored Malaysia’s commitment to fostering a conducive environment for trade partnerships and highlighted the importance of leveraging the outcomes of the prime minister’s visit to boost economic cooperation.

Signed in 2007, the FTA between Pakistan and Malaysia was Pakistan’s first comprehensive trade agreement, covering trade in goods, services, investment, and economic cooperation. It was also Malaysia’s first bilateral FTA with a South Asian country, representing the strong diplomatic ties between the two OIC-member nations.