The Minister for Commerce stresses the strong and deep-rooted relations between Pakistan and Australia, highlighting the importance of sports in fostering mutual recognition. He emphasizes enhancing trade relations, proposing steps to deepen agro-trade and reduce trade barriers. The minister also expresses gratitude for the Pakistani diaspora in Australia and commends the Australian Government for offering scholarships to Pakistani students.

A 50-member Saudi Arabian business delegation will visit Pakistan on May 5th, 2022, for trade talks and investment opportunities. The visit aims to strengthen economic ties and boost exports from Pakistan to Saudi Arabia in various sectors such as IT, energy, and agriculture. Source: The News Pakistan.

Global rice supplies have stabilized after last year’s rally, but the rice market remains vulnerable to weather risks caused by El Nino. Rubens Marques, the chief executive for South and Southeast Asia at LDC, emphasized the importance of monitoring reservoir levels to assess the impact on irrigated crops. The volatility of weather events and the challenge of addressing imbalances caused by climate change are additional concerns for the rice market.

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Australia’s High Commissioner in Pakistan celebrated Australia Day, emphasizing the strong bonds between the two countries. The Federal Minister of Commerce highlighted the importance of bilateral relations, with a focus on trade. Both countries expressed their commitment to collaboration, particularly in agriculture and gender equality.

U.S. beef export sales soared to the highest point of the marketing year, driven by robust demand from Asian customers. Pork sales also saw an uptick, with Mexico accounting for the majority. Wheat had a net reduction, while corn and rice sales increased. Strong international demand for agricultural products is evident. For more details, visit the Source.

India’s rice exports hit a three-month low due to weak demand and ample supply, whereas Thailand experiences higher prices owing to domestic demand and droughts. Rice exports in Vietnam have significantly increased, while Bangladesh fears a heatwave may damage its main rice-growing region. (50 words)

The Pakistani government aims to meet budget targets before the IMF visit, seeking approval from the federal cabinet. Recent reports indicate a positive trajectory for the economy, with stable currency, increased agricultural production, and decreased current account deficit. The Special Investment Facilitation Council has been instrumental in driving favorable outcomes. [Source: Dunya News]

Pakistan’s Consumer Price Index (CPI) based inflation rate hit a 23-month low of 17.3% in April, indicating a downward trend. Month-on-month inflation also decreased by 0.4%, suggesting the possibility of further decline. The Ministry of Finance predicts a gradual easing down to 17.5-18.5% in May 2024. Overall, efforts to stabilize the economy and reduce inflation are showing positive results.

Pakistan’s economy is on the rise, with agricultural growth at over 7%. Stable currency and stock exchange, increased remittances, and reduced current account deficit contribute to a positive outlook. The Special Investment Facilitation Council’s efforts have further bolstered the country’s economic stability and growth.