QUOTA LIMIT RESTRICTING RICE EXPORT POTENTIAL TO CHINA
Exporters ask embassy in Beijing to take issue of raising rice import quota for Pakistan from 0.5m tons to 0.75m tons.
Although there is lot of potential to increase the export of rice from Pakistan to China, yet it is presently limited due to quota restrictions in China.
Pakistan has exploited fully its 500,000 matric tons rice export quota to China, earning around $200 million and if this limit is exceeded to 750,000 tons the country can fetch more foreign exchange to narrow trade deficit, the exporters said. The Beijing has recently inked an agreement to import around 1 million ton rice from Thailand paying $30 per ton additional cost. If Pakistan govt convinces the Chinese authorities to raise rice import limit for Pakistan the Chinese buyers will also benefit, as their cost will be reduced significantly.
Meanwhile, the Rice Exporters Association central chairman Rafique Suleman said that Prime Minister Nawaz Sharif’s visit to China would help Pakistan to bring Chinese investment worth billions of dollars in different sectors which would help strengthen the national economy.
He said that China, in response to current visit of Prime Minister, has announced substantial investment in Pakistan for further improving economic ties between the private sectors of the two countries besides enhancing volume of trade.
He said that Pakistan with Chinese investment would achieve sustained growth in key sectors, including increase in per capita income and improvement in micro-economic in the years to come.