Synthetic Filament Yarn Export to Pakistan From Malaysia

Synthetic Filament Yarn Export to Pakistan From Malaysia Over Six Month Increased by 60.3%


Malaysian Export of Synthetic Filament Yarn to Pakistan for the first six month of this year posted an hefty increase of 60.3% when compared to the corresponding period of last year.


According to the Commercial Counselor for Pakistan High Commission, Mr. Wajiullah Kundi, the export of Synthetic Filament from Malaysia to Pakistan rose to RM 64.98 million compared to RM 40.53 million in the corresponding period of last year thereby registering an unprecedented increase of 60.3%.


While quoting data obtained from Malaysia External Trade Development Corporation (MATRADE) Mr. Kundi said that the Palm oil export from Malaysia to Pakistan remain stable in the first six months of this year compare to the corresponding period of last year In Monetary terms, the palm oil export touched RM 1.97 billion compared to 2.08 billion of last year thereby registering a slight decrease of 5.17% .

According to Mr. Kundi, the largest decrease recorded was in export of Nature rubber which ebb from RM 40.29 million in the first six month of last year to RM 15.96 million in the corresponding period of this year, thereby registering a decrease of 60.4%..

The insecticide export from Malaysia to Pakistan also register a decrease of 13.91 % in the subject period. Total export of insecticide remained low at RM 21.42 million in the subject period this year compared to RM 24.88 million in the corresponding period of last year.

The Fibre Board of Wood, another major export from Malaysia to Pakistan, remain stable with a slight decrease of 12.31 %. In monetary terms the total export of Fibre Board of Wood touched RM 21.55 million in first six of this year compared to RM 24.58 million in the corresponding period of last year.

Similar decrease was also observed in export of Part and Accessories. The total export of Part and Accessories from Malaysia to Pakistan in the first six months of this year was recorded at RM 24.63 million compared to 31.28 million in the corresponding period of last year, registering a decrease of 21.26%.

The High Commissioner for Pakistan, Lt General (Retd) Tahir Mahmud Qazi while commenting on the data said that after signing of Free Trade Agreement (FTA) between Pakistan and Malaysia at the end of 2007, a new window of opportunity has been opened up for the traders of the both the country which he said however remained highly underutilized..

Mr. Tahir Qazi said that immense potential of bilateral trade that exist between the two countries can be gauged from the fact that MATRADE has set the target of bilateral trade between Pakistan and Malaysia at US$ 10 billion by 2015. The target although looks ambitious, but is achievable, provided that traders of both the country devote themselves to find newer venues of trade, and unleash immense potential that exist for bilateral trade by fully utilizing the cut and reduction in duties and taxes to over twelve thousands products.

In 2008, Malaysia's total exports to Pakistan stood at RM5.73 billion, an increase of 33.04 percent from the RM4.31 billion the previous year.