fpcci urges greater collaboration with china in the agricultural sector
Published on: January 17, 2024.
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Pakistan has great potential to strengthen agricultural and food cooperation with China in order to boost its export contribution. Rafique Suleman, Convener FPCCI Rice Export Committee 2022-2023 and Ex Chairman, Rice Exporters Association of Pakistan, emphasized this during an exclusive interview with Gwadar Pro. He highlighted the existing collaboration between China and Pakistan in agriculture and food, focusing on technology transfer, joint ventures, market access, and knowledge sharing. These partnerships have not only enhanced Pakistan’s agricultural and food capacity but also expanded its exports.
In the first half of the current fiscal year 2023-24, Pakistan witnessed a significant increase of 64% in agriculture and food exports. The total value of these exports reached $3.847 billion, compared to $2.345 billion in the same period last year, resulting in an absolute increase of $1.502 billion. This growth in agri-food exports has played a crucial role in reducing the trade deficit by 34.3%, bringing it down to $11.14 billion in the first half.
Rice exports, in particular, have shown remarkable progress, with a 96% increase during the first half of FY24. The value of rice exports reached $1.64 billion, compared to $841 million in the same period last year. There is a high possibility that rice exports will surpass the $3 billion mark during the current fiscal year.
Rafique Suleman praised the outstanding performance of rice exports and attributed it to the preference for long grain basmati and non-basmati rice from Pakistan among rice-buying countries. He also highlighted that the prices of rice in Pakistan are cost-effective compared to other competitors. By focusing on long-term soil health and resource management, investing in quality, technology, and marketing, Pakistan can maximize its potential and achieve sustainable export growth, solidifying its position as a major rice exporter.
Apart from rice, Pakistan’s agricultural and food exports to China hold promising opportunities. China, being a major food importer, offers a wide range of diversified export prospects for Pakistan. Rafique Suleman emphasized that several agricultural and food products have great export potential for Pakistan beyond rice.
In conclusion, Pakistan has the potential to enhance its agricultural and food cooperation with China, leading to increased exports. By capitalizing on its strengths in rice production and exploring other agricultural products, Pakistan can establish itself as a prominent player in the global market.
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