It is also Pakistan`s first comprehensive free trade agreement, which integrates trade in goods and services with investment and Malaysia`s first bilateral free trade agreement with a South Asian country. Global free trade agreements generally deal with trade agreements that involve more ambitious liberalisation obligations than those under WTO agreements. The MPCEPA is a comprehensive agreement that also includes the liberalisation of trade in services. Pakistan has offered a maximum foreign participation of 60% in all sectors, and the number of Malaysians employed per organization does not exist. The sectors of interest to Malaysia are professional services, construction services and related engineering services, educational services and telecommunications services. He said the country would be firm in improving its connectivity in Central Asia, which led to the signing of a comprehensive agreement for the Sino-Pakistan economic corridor worth $46 billion in new investments. The 2004 Free Trade Agreement (FTA) and the 2007 Economic Partnership Agreement between the two countries began diplomatic relations too late. Relations between Pakistan and Malaysia began in 1957, when Malaysia gained independence for the first time. However, because of Malaysia`s attitude towards the war between India and Pakistan in 1965, the relationship began in a rocky way.
Last December, Prime Minister Imran Khan cancelled his trip to Malaysia for an Islamic conference at the request of Saudi Arabia. He was followed by Mahathir, with whom Imran Khan had previously found common ground and was expelled from the post of Prime Minister in March. This happened at the precise time when the first cases of coronavirus were reported in both countries, resulting in a general slowdown in economic activity. The Malaysia Pakistan Free Trade Agreement (FTA) officially known as the Malaysia Pakistan Closer Economic Partnership Agreement (MPCEPA) came into force in 2008. The aim is to promote bilateral trade between the two countries through tariff preferences for different posts. The free trade agreement is one of the most comprehensive agreements signed by Pakistan, which includes trade in goods, services, investment and economic cooperation. While the diplomatic dispute was quickly resolved with the Shah of Iran`s arbitration, the agreements progressed slowly. The two countries signed an air agreement in 1973 and a cultural agreement in 1979, but would not be able to sign their free trade agreement for another two decades. But one way to measure the possible success of the agreements could be to see the success of other similar agreements signed by Malaysia with other countries. “Now that the security situation has improved, I have proposed to the Joint Economic Commission to meet this year or early next year so that all previously signed declarations of intent can be implemented,” he said. Why is this more than ten-year-old economic partnership agreement now playing a role? As more and more people are looking for economic opportunities in Southeast Asia, and the most important they are looking for is Malaysia.
According to Shahid Ghani, a recruitment officer near Ganga Ram Hospital, the Guld market is fading and the future will be in places like Malaysia.