Malaysia and Pakistan have recently signed a Free Trade Agreement (FTA) on November 23, 2020. The primary aim of this agreement is to establish a framework that promotes and facilitates trade between the two countries.
The agreement covers various sectors, including agriculture, automotive, chemicals, textiles, and apparels. Malaysian exporters are expected to benefit from the duty-free access to Pakistan`s market for palm oil, plywood, and electrical products.
Similarly, Pakistani exporters can enjoy duty-free access to the Malaysian market for textiles, rice, and ethanol. The agreement also includes provisions for non-tariff barriers to improve trade between the two countries.
The FTA is expected to provide a significant boost to bilateral trade between Malaysia and Pakistan. Currently, Malaysia is Pakistan`s 14th largest trading partner, with bilateral trade valued at approximately $1.7 billion in 2019.
The FTA is expected to increase trade between the two countries by at least 10%. The agreement provides an opportunity for Malaysian companies to tap into Pakistan`s large market of over 200 million people.
Furthermore, the FTA will support the Malaysian government`s efforts to diversify its export markets and reduce dependence on a few countries. It also provides an opportunity for Malaysian companies to move up the value chain by exporting higher-value-added products to Pakistan.
From an SEO perspective, the Malaysia-Pakistan Free Trade Agreement is likely to generate considerable interest from businesses and individuals interested in trade between the two countries. Key phrases such as “Malaysia-Pakistan trade”, “Malaysia-Pakistan FTA”, and “Malaysia-Pakistan exports” are likely to be popular search queries.
Therefore, it is crucial for brands and businesses to optimize their online content to include these keywords and phrases. This can be achieved by creating relevant and informative content that speaks to their target audience. It is also important to ensure that the content is well-structured, easy to read and provides value to the reader.
In conclusion, the Malaysia-Pakistan Free Trade Agreement is a significant development for both countries. It presents a unique opportunity for Malaysian companies to expand their export markets and tap into Pakistan`s large consumer base. From an SEO perspective, businesses should look to optimize their online content to ensure they capitalize on the increased interest in trade between the two countries.