KUALA LUMPUR, Dec 21 — Malaysia and Pakistan, currently negotiating a further reduction of duties on existing and additional tariff lines under a free trade agreement (FTA), are expected to finalise it in the first quarter next year.

"We want to enhance the agreement by taking into consideration new elements we think should be included,” Malaysia External Trade Development Corporation (Matrade) Chief Executive Officer Datuk Dzulkifli Mahmud said.

"For example, how our local small and medium enterprises can take advantage of certain investment areas in Pakistan and vice versa,” he told reporters at Matrade's Trade Talk on Doing Business With Pakistan here today.

Dzulkifli said a further reduction of duties on existing and additional tariff lines are expected to better facilitate business communities of both countries.

The free trade agreement between Pakistan and Malaysia was signed in Kuala Lumpur in November 2007 — the first bilateral agreement between two member states of the Organisation of Islamic Cooperation. — Bernama