KUALA LUMPUR: Prime Minister Shehbaz Sharif has said that Pakistan and Malaysia enjoy strong and deep-rooted brotherly relations and if both countries work together, they can bid farewell to the International Monetary Fund (IMF) for good.
Speaking at the Pakistan–Malaysia Business and Investment Conference in Kuala Lumpur, which was also attended by Malaysian Prime Minister Anwar Ibrahim, PM Sharif said that Pakistan had to seek IMF loans to support its economy. However, he added, “If entrepreneurs from Pakistan and Malaysia join hands and establish joint ventures, we can say goodbye to the IMF forever.”
The prime minister praised Anwar Ibrahim’s leadership, saying the progress Malaysia has made in recent years under his leadership is “nothing short of a miracle.”
He said Anwar’s vision and efforts had elevated Malaysia’s status and were worthy of admiration.
Sharif said that both countries had agreed to promote business cooperation, adding that Pakistan and Malaysia could jointly provide manpower to Gulf states, while cooperation in the tourism sector could prove to be a game-changer.
He said that Pakistan exports several agricultural products to Malaysia, adding that the country’s predominantly young population poses both challenges and opportunities that can be turned into strengths.
Highlighting Pakistan’s tourism potential, the premier invited Malaysian investors to explore opportunities in the sector, saying the country is home to some of the world’s most beautiful resorts, including in Gilgit-Baltistan, Skardu and other northern parts, with breathtaking views of Nanga Parbat and K2.
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PM Sharif said that Pakistan provides affordable manpower to Gulf and Central Asian countries, and that its macroeconomic indicators remain positive.
He noted that inflation, which once stood at 36 per cent, had now fallen to single digits, while the interest rate had been halved to 11 per cent — factors that had helped stabilise the economy.
The prime minister stressed the need to strengthen cooperation in various sectors including information technology, electronics, oil and gas, copper and mining. He said Balochistan’s mineral sector offered vast investment opportunities and welcomed Malaysian investors to explore them.
‘Malaysia open to Pakistani businesses’
Malaysian Prime Minister Anwar Ibrahim said that the doors of trade and investment were open for Pakistani companies, adding that enhanced trade ties could help the region achieve economic independence.
PMs Anwar Ibrahim, Shehbaz Sharif discuss enhancing Malaysia-Pakistan cooperation
He said economic growth could be achieved through the ASEAN platform and expressed his desire to boost trade relations with Pakistan. “We must enhance mutual linkages to promote business cooperation and ensure the implementation of measures agreed upon to strengthen private-sector ties,” he added.
Recalling the long-standing friendship between the two nations, Anwar said in Urdu, “Dosti ka haath kabhi khaali nahi hota” (The hand of friendship is never empty), reaffirming Malaysia’s willingness to invest in Pakistan.
He said that given regional disputes, tariff issues and global challenges, nations must prioritise internal stability and create favourable conditions for business and investment. “ASEAN countries should work to promote intra-regional trade,” he added.
Anwar said Islamic countries could also enhance mutual trade through their organisations, noting that expanding economic relations was essential for collective survival. “The Muslim world has high hopes from Pakistan, and trade and investment are the true path to progress,” he said.
He added that thousands of Pakistani students were studying in Malaysia, reflecting strong bilateral ties. Calling for proactive economic strategies, he said, “Pakistan is a country that draws the world’s attention,” and paid tribute to Quaid-e-Azam Muhammad Ali Jinnah and Allama Iqbal for their remarkable contributions.
Earlier, a defence cooperation agreement was finalised between Pakistan and Malaysia, alongside several other key accords covering exports of halal meat, rice supply, and other sectors. Malaysian Prime Minister Anwar Ibrahim said that the Pakistan–India dispute poses a threat to regional peace.
Prime Minister Shehbaz Sharif thanked Anwar for his warm welcome and described Malaysia as his “second home.”
Sharif said Pakistan seeks to enhance bilateral cooperation in development projects with Malaysia so both countries can combine their expertise to achieve shared goals of progress.
“This is my first visit to Malaysia,” Shehbaz said. “But believe me, ever since I arrived last night, every face here has felt familiar and friendly, as if we have known each other for years. This warmth stems from sincerity and genuine friendship — it feels like a family reunion.”
Shehbaz further praised Anwar Ibrahim’s leadership, saying his vision, energy and focus on turning Malaysia into a strong regional and global economy were a testament to his remarkable leadership qualities.