Exporters urged to capitalise on Malta’s market

KARACHI:

Pakistan’s Honorary Investment Counsellor to Malta, Ziaul Noor, has urged Pakistani exporters to explore opportunities in Malta, emphasising that Pakistan’s trade volume with Malta is significantly lower compared to India.

Pakistan’s total exports to Malta in 2023 amounted to approximately $5.07 million, marking a 28.35% increase from 2022, when the figure stood at $3.95 million. The primary exports from Pakistan to Malta included textile articles, sets, and worn clothing, contributing around $3.58 million to the total export value.

In stark contrast, India’s exports to Malta were valued at approximately $287.09 million in 2023, reflecting a 42.7% increase from $201 million in 2022. India’s dominant export sector to Malta remained pharmaceuticals, with a total export value of $194.16 million in 2023. The country has also successfully penetrated Malta’s market with organic chemicals, electronics, ceramic products, and cereals.

Noor emphasised that Pakistan has the capability to compete in these industries, particularly in pharmaceuticals, organic chemicals, electronics, ceramics, grains, and textiles. He urged Pakistani exporters to explore Malta as a promising trade destination. Speaking with he explained, “A quick glance at these statistics can easily show that the goods in which India is succeeding the most with their exports to Malta are, in fact, within the same industries Pakistan excels at.”

Malta, a small island nation in Europe and a member of the European Union and Schengen States, imported $10.7 billion worth of goods in 2023. Due to its strategic geographical location, Malta serves as a gateway for trade within Europe, offering advantages such as minimal customs clearance, low tariffs, EU certifications, and efficient shipping logistics.

Noor noted that Malta’s import-dependent economy presents a strong case for Pakistani exporters to establish a foothold in the Maltese market. He urged exporters to offer competitive pricing and focus on sectors where Pakistan has a strong presence, such as surgical equipment, grains, spices, tiles, marble, electronics, and pharmaceuticals.

Noor explained that a dedicated trade centre in Malta has been set up to showcase Pakistani products and facilitate business interactions. This hub provides European businessmen with the opportunity to view high-quality Pakistani goods firsthand.

A single-country trade expo in Malta is in the pipeline to enable Pakistani businessmen to network with Maltese and European importers, hold conferences, and establish trade connections, he said.

“Malta offers a strategic location as well,” said Noor. Setting up warehousing facilities in Malta would facilitate quicker distribution of Pakistani goods across Europe. Products cleared in Malta would benefit from free trade agreements within the EU, reduced customs duties, and a lower VAT rate of 18%. Malta’s economy thrives on tourism, creating a high demand for steelware, cutlery, textiles (bedding, curtains, blankets), and bulk food items like Basmati rice, lentils, and spices, he said.

Malta imports all its medical supplies, including pharmaceuticals, surgical tools, and hospital textiles. Pakistani exporters can tap into government tenders for these goods, he said.

Noor also highlighted the historical ties between the two countries. Pakistan played a role in the establishment of Air Malta (now KM Malta Airlines), with Pakistan International Airlines initially holding a 20% share. In 1975, Maltese pilots travelled to Pakistan for training, showcasing long-standing bilateral cooperation.