Pakistan's Economy - News and Updates

[salman77]

French co to explore business opportunities in Pakistan

KARACHI: Mathieu Renard Biron vice President of the Asia Pacific region of one of the world’s largest freight management companies, Geodis Wilson will be visiting Pakistan next week to explore the business opportunities and enhance the Company’s participation in logistic sector. Geodis Wilson Biron will be meeting Prime minister, key officials in the government, business leaders and other French companies operating in the country to seek opportunities to expand its operation in the country through its exclusive partner, e2e.
In 2012 e2e achieved the title of becoming the fastest growing Company in Pakistan by Harvard based AllWorld Network with a revenue growth of 1,918 percent during 2008-2010 period and in just 7 years it has flourished as a group and earned the respect of businesses as the only ‘Supply Chain’ conglomerate of Pakistan. Geodis Wilson belongs to Geodis group which is owned by French rail and Freight group SNCF and is generating revenues of 2.64 billion euro with presence in 150 countries having clients such as Volvo, Hyundai, Nestle, Tetra Pak and Astra Zeneca.

 

[ejaz007]

Workers’ remittances rise over 7% to $6.4bn in first five months

Staff Report

KARACHI: Overseas Pakistani workers remitted an amount of $6.407 billion in the first five months (July–November) of the current fiscal year 2013-14, showing a growth of 7.10 percent when compared with $5.982 billion received during the same period of last fiscal year (July- November FY13).

The inflow of remittances in July- November 2013-14 from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $1793.73 million, $1297.22 million, $1025.87 million, $962.76 million, $732.64 million and $179.14 million respectively as compared with the inflow of $1609.45 million, $1240.62 million, $993.57 million, $845.86 million, $676.69 million and $161.16 million respectively in July- November FY13.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during the first five months of current fiscal year amounted to $415.37 million as against $454.69 million received in the first five months of last fiscal year.

In November 2013, the inflow of remittances from Saudi Arabia, UAE, USA, UK, other GCC countries (including Bahrain, Kuwait, Qatar and Oman), and EU countries amounted to $334.10 million, $236.29 million, $175.82 million, $155.13 million, $128.18 million and $29.84 million respectively as compared with the inflow of $300.84 million, $193.79 million, $152.29 million, $148.53 million, $117.18 million and $26.63 million respectively in November, 2012. Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during November 2013 amounted to $71.76 million.

http://dailytimes.com.pk/default.asp?page=2013\12\11\story_11-12-2013_pg5_2

 

[salman77]

Sports goods export up by over four percent

Pakistan's sports goods export went up by over 4 percent to $106.410 million in July-October 2013-14 as compared the goods export of $101.870 million in the same period last fiscal year, official figures said. In the category of sports good: gloves export went up by $5.845 million or just over 15 percent to $44.694 million in July-October 2013-14 as compared to the goods export of $38.849 million in the same period last fiscal year, Pakistan Bureau of Statistics (PBS) suggested.

In terms of volume: gloves export went up by 53,000 dozens or 6 percent to 978,000 dozens in July-October 2013-14 from 925,000 dozens in the same period of 2012-13, the PBS added.

Export of footballs grew by $5.834 million or 14 percent to $48.512 million during July-October 2013-14 from the soccer balls export of $42.678 million in the same period of 2012-13, the statistics showed.

Quantity of footballs export also surged by 240,000 dozens or 28 percent to one million dozens in July-October 2013-14 from export of 861,000 dozens footballs in the same period last fiscal year, the PBS added.

Sports goods export up by over four percent | Business Recorder

Chinese firm intends to acquire Pakistani textile mills
December 11, 2013 (Pakistan)

Chinese textile firm Shandong Ruyi Technology Group Ltd., has announced its intention to acquire up to 52 percent of ordinary shares of the Pakistani firm Masood Textile Mills Ltd (MTM), located in Faisalabad, through an agreement or public offer.

The Chinese textile group sent a notice to the Karachi Stock Exchange (KSE), in which it has stated that the company wishes to acquire 31.2 million ordinary shares of MTM, which comes up to approximately 52 percent of the total issued shares of the target company, i.e. MTM.

The notice was sent to KSE through AKD Securities Ltd which has been appointed as manager to the offer for the potential acquisition.

Earlier this year, the Chinese textile group had expressed interest in entering into a joint venture (JV) with the Pakistan Cotton Ginners Association (PCGA) for establishing a ginning and spinning industry in the country.

Shandong Ruyi Technology Group, based in the Shandong province of China, is one of the top ten Chinese enterprises in the textile industry involved in textile and clothing, cotton textile, cotton printing and dyeing, knitting, fiber, and jeans. The company also has a state-grade technical center and research and development (R&D) department.

Masood Textile Mills is one of the few vertically integrated textile mills in Pakistan with in-house yarn, knitting, fabric dyeing, processing, laundry and apparel manufacturing facilities. Currently, 85 percent of the company’s production is exported to the US while the rest 15 percent is destined for Europe.

 

[salman77]

EU grants GSP Plus status to Pakistan

ISLAMABAD: The European Union (EU) on Thursday granted Generalised System of Preferences (GSP) Plus status to Pakistan with an impressive count of 406 votes, granting Pakistani products a duty free access to the European market.
According to media reports, 406 members of the European Parliament expressed their support for Pakistan while 186 lawmakers voted against the status, which has been granted till 2017.
The GSP Plus status will allow almost 20 per cent of Pakistani exports to enter the EU market at zero tariff and 70 per cent at preferential rates.
Prime Minister Nawaz Sharif congratulated the nation over the European Union award.
“Award of GSP Plus status shows the confidence of international markets in the excellent quality of Pakistani products,” he said in a statement.
The prime minister said: “gaining access to European markets was the top most priority of the government as part of economic development agenda, which has been achieved due to continuous hard work of the ministers and officials from the ministries of finance, commerce and foreign affairs and friends of Pakistan in Europe.”
This status would enable Pakistan to export more than US$1 billion worth of products to the international markets. Only the textile industry would earn profits of more than Rs1 trillion per year.
EU trade concessions will benefit the country’s largest manufacturer and exporter, the textile and clothing industry, the most by enabling its products to compete with those of regional rivals like Bangladesh and Sri Lanka, which already have duty free access to the bloc’s market.
PM Sharif further said that increase in exports would resultantly facilitate in economic growth and help in generation of millions of additional jobs in the country.
Meanwhile expressing his pleasure over the development, Finance Minister Ishaq Dar said the EU status will help Pakistani exports to rise by up to $2 billion.

EU grants GSP Plus status to Pakistan - DAWN.COM

 

[ejaz007]

EU grants GSP Plus status to Pakistan

Scheme allows 20pc of Pakistani exports to enter EU market at zero tariff and 70pc at preferential rates

* Textile exports will now have duty-free access to 27 EU countries

BRUSSELS: The European Parliament has granted GSP (Generalised Scheme of Preferences) plus status to Pakistan, media reports said on Thursday.
In all, four hundred and six members of the European Parliament supported the move in the session, while 186 votes went against the granting of GSP plus status. The EU’s “Generalised Scheme of Preferences” (GSP) allows developing country exporters to pay lower duties on their exports to the EU. This gives them vital access to EU markets and contributes to their economic growth. After getting the GSP plus status, Pakistani exports would be exempted from the general rules.
The formal approval of the EU Parliament next month will allow almost 20 percent of Pakistani exports to enter the EU market at zero tariff and 70 percent at preferential rates. EU trade concessions will benefit the country’s largest manufacturer and exporter, the textile and clothing industry, the most by enabling its products to compete with those of regional rivals like Bangladesh and Sri Lanka, which already have duty-free access to the bloc’s market.
The status will prove to be of great benefit to Pakistan’s textile manufacturers and exporters who will now have access to 27 European countries without having to pay duties. Textile exports had been declining in Pakistan, as manufacturers and exporters were finding it hard to compete with Sri Lanka and Bangladesh who already had duty-free access to European markets. Prime Minister Nawaz Sharif said that award of GSP Plus status to Pakistan shows confidence of the international markets in the excellent quality of its products.
“We are grateful to the European Commission and member countries of the European Union for their unstinting support at every step of the process and to the European Parliament for the adoption of the Single Delegated Act,” the Foreign Office said Thursday. In an interview, Punjab Governor Chaudhry Muhammad Sarwar termed GSP Plus status as a historic and tremendous achievement of Pakistan. He said that All Pakistan Textile Mills Association (APTMA) would get one trillion rupees benefit annually after the grant of GSP plus status. The governor said that Pakistan will be able to export textile goods to European member countries till 2017 without any duties. It will increase export worth one billion dollar. Chaudhry Sarwar added that major groups of European Parliament were in favour of Pakistan.
President Mamnoon Hussain has said that the GSP Plus scheme would not only further strengthen our trade relations with the member countries of the European Union but would also significantly help strengthen our economy through greater trade, generation of economic opportunities and creation of more jobs for our people. Welcoming the approval of Single Delegated Act by the European Parliament today whereby ten countries, including Pakistan would be entitled to GSP Plus Scheme, the president appreciated the efforts of all those who worked hard for passage of this Act.
He also acknowledged and appreciated European Commission and the member countries of European Union for their continued support to the country for getting GSP Plus status. The president expressed the hope that our economy and the business community would take full advantage of the facility to secure greater place for Pakistani products in the European markets.
Prime Minister Nawaz Sharif congratulated the nation over the award of GSP-Plus status to Pakistan by the European Union. “Award of GSP-Plus status shows the confidence of international markets in the excellent quality of Pakistani products”, said the prime minister. “Gaining access to European markets was the top most priority of the government as part of economic development agenda, which has been achieved due to continuous and hard work of the ministers and officials of the ministries of finance, commerce and foreign affairs and friends of Pakistan in Europe”.
This status would enable Pakistan to export more than one billion dollars worth of products to the international markets. The prime minister further said that increase in exports would resultantly facilitate in economic growth and help in generation of millions of additional jobs. agencies

http://www.dailytimes.com.pk/default.asp?page=2013\12\13\story_13-12-2013_pg1_1

 

[salman77]

UAE company to invest $170 mln in Pakistan
ISLAMABAD, Dec 13 (APP): Sultan Al Ghurair Director Business Development Al Ghurair Investment, Dubai, UAE said that his group plans to invest an amount of $170 million for constructing a refinery in Pakistan. During a meeting with Finance Minister Senator Ishaq Dar here on Friday, he said that the proposed refinery would have a capacity of refining 100,000 barrels of crude oil per day. The Finance Minister welcomed the initiative of the group and expressed the confidence that the project will be fast tracked and completed as early as possible so that it can benefit from a growing market in Pakistan.

 

[salman77]

GSP Plus status to create 100,000 jobs, enhance exports

ISLAMABAD: Generalized System of Preferences, or GSP plus status to Pakistan would create 100,000 new jobs in Pakistan, enhance exports up to $1000, State Minister for Trade Khurram Dastigir Khan told National Assembly on Monday.
Answering the questions of legislators in the National Assembly, he said that Pakistan has been allowed to export its products in 27 countries of European Union on zero percent duty from Jan 2014.

The volume of trade between Pakistan and Japan was over $ 2.2 billion, State Minister for commerce Khurram Dastigir Khan informed the National Assembly on Monday. The government has devised a plan to enhance exports to Japan.

Pakistan's exports to Japan were US$ 166 million and Pakistan's imports from Japan are $ 2.03 billion. He said government was pursuing a robust policy to enhance country's exports. Due to effective steps taken - Russia has lifted the ban on import of Pakistani Kinos into their country. While efforts were underway to pursue Japan to lift ban on imports of Pakistani Kinos.

Responding to another question, he said maximum facilities were being offered to Pakistani exporters. Association of Southeast Asian Nations (ASEAN) countries were enjoying preferential treatment from Japan and Pakistan was trying to enhance Pakistani exports after holding negotiations with ASEAN countries.

He said the government has devised a plan to establish Land Court Authorities in country's entry and exit points aiming to facilitate the exporters and importers.

The draft land court authority law would be presented in the Parliament soon. After the establishment of the authority - all the departments would come under the the authority. The Authorities would be established at Torkhum, Wahgah, Chaman etc, he said.

A Chinese company has expressed willingness to invest up to $ 2 billion in Pakistan.

GSP Plus status to create 100,000 jobs, enhance exports

 

[salman77]

UK-Pakistan bilateral trade reaches œ2.1 billion: Lord Livingston

LONDON, Dec.17 (APP): UK Minister for Trade and Investment Lord Livingston said on Tuesday bilateral trade between the United Kingdom and Pakistan reached œ2.1 billion in 2012. “It is a sign that we are heading in the right direction - but work remains to be done to ensure Pakistan and the UK truly benefit from this partnership,” he told the second annual UK- a flagship Pakistan Trade and Investment Conference held at prestigious Lancaster House here. Lord Livingston said prime ministers of the two countries had agreed on an ambitious trade target to increase bilateral trade to œ3 billion by 2015. He said today’s event would raise awareness of the trade opportunities between Pakistan and the UK and help make new connections and highlight the government support available to businesses that want to export.
The conference was organized by UK Trade and Investment (UKTI) in collaboration with the Pakistan High Commission in UK, and Pakistan British Trade and Investment Forum (PBTIF).
The conference was attended by over 80 business representatives from UK and Pakistan companies. The aim is to raise awareness of investment opportunities in Pakistan, the support available for UK companies considering the market, and provides a forum for business leaders from both nations to make important connections.
The event was attended by Senior Foreign Office Minister Baroness Warsi, with a keynote speech from UK Minister for Trade Lord Livingston. Pakistan High Commissioner for UK Wajid Shamsul Hasan represented the Pakistan side.
Discussions throughout the day focused on three key sectors - Energy, Education, and Retail.
Speaking on the occasion, Senior Foreign Office Minister Baroness Warsi said: “In my role as Minister for Pakistan over the last year I have visited Islamabad and Lahore, most recently with British business representatives, where I was struck by the diversity of businesses that are trading between our two nations, and the wealth of opportunity there is for business.”
She said today’s conference was an important step in raising awareness of the business opportunities that exist and building even more trade links between the UK and Pakistan.
“There is much to be positive about for the future. I was delighted that the European Parliament voted last week to grant Pakistan the “Generalized Scheme of Preferences plus (GSP+)” - something the UK has been a tireless advocate for • and will present even greater opportunity for bilateral trade,” she said.
Pakistan High Commissioner Wajid Shamsul Hasan said Britain and Pakistan
had always enjoyed substantial trading relationship, with more than 100 British companies operating successfully in Pakistan.
He especially thanked British Prime Minister David Cameron, Deputy Prime Minister Nick Clegg, Foreign Secretary William Hague, MP Alistair Burt, Cabinet Minister Baroness Sayeeda Warsi, former Prime Minister Gordon Brown, former Foreign Secretary David Miliband and Baroness Ashton.
He particularly thanked Lord Green, former Trade Minister, Martin Donnelly, Permanent Secretary for the Department of Business and CEO UKTI Nick Baird, Socialist International’s Secretary General Luis Ayala for their enormous support in Pakistan’s pursuit of the GSP+.
The High Commissioner also thanked MEP Sajjad Karim who over the years had painstakingly garnered support for Pakistan amongst his fellow MEP’s in Brussels.

Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - UK-Pakistan bilateral trade reaches œ2.1 billion: Lord Livingston

 

[salman77]

‘Kinnow worth $2.7m exported to Russia’

KARACHI - The co-chairman of All Pakistan Fruit & Vegetable Exporters, Importers and Merchants Association (PFVA) has claimed that, after withdrawal of ban on Pakistani kinnow by Russia, 150 containers of kinnow worth $2.7 million have been exported to Russia.
Talking to the media, he informed that export of kinnow (orange) to other countries of the world has generated valuable foreign exchange of $5 million. He further shared that by end of January 2014 there exists very strong possibility of withdrawal of ban by Russia on potato and rice as well, anticipated to fetch USD12 million and USD1.5 billion as valuable foreign exchange by export of rice and potato respectively. He stressed the need for an immediate extension of formal invitation by the Ministry of National Food Security and Research to the Russian Quarantine team to visit Pakistan for the withdrawal of ban on potato and rice. He briefed that as soon as the ban on kinnow was withdrawn, the export of kinnow to Russia commenced from Dec.09, 2013 and various other hurdles in exports of kinnow are being handled enthusiastically by the Chairman PFVA, Abdul Malik. The export target of kinnow for the current year has been fixed at 300,000 tons which is anticipated to yield USD180 million as valuable foreign exchange and of this export of expected 82000 tons of kinnow to Russia would generate USD50 million alone, he added . Besides all the successes in international markets the prominent fruit of the country is mostly seen missing from the local markets. Local consumer still does not have the purchasing power to buy this fruit. Kinnow, available in market, is being sold at Rs 80 to Rs 100 per dozen and its quality as well taste is not good. In some posh areas of the city, good quality kinow is available but usually vendors charge their own price for them, claiming that it export quality item. The issue of over charging at fruit and vegetable stalls in the city is still unresolved and vendors are charging their own prices.

‘Kinnow worth $2.7m exported to Russia’

 

[salman77]

'Russia wants to enhance economic ties with Pakistan'

"Russian envoy stressed on technical and economic co-operation between Russian and Pakistan. Investment in energy sector of Pakistan is already being made by Russian companies," said Yuri Kozlov, Head of Trade Representative of Russian Federation during his visit to the Faisalabad Chamber of Commerce and Industry (FCCI).

He also pledged to make an all-out effort to remove bottlenecks from the smooth way to promotion of bilateral trade ties, and said as Russia was very keen to enhance the trade and business ties with Pakistan, Yuri Kozlov was finding out opportunities available in Pakistan, particularly for the traders, investors and tourists. He agreed to FCCI proposal regarding the regular exchange of trade information and trade delegations to enhance bilateral trade volume between the two countries. He urged both the countries for technical and economic co-operation as well tourism aspect.

Investment in energy sector of Pakistan is already being made by Russian companies, further will also be encouraged, he told. On the occasion, the FCCI president Engr Suhail bin Rashid told that Faisalabad has elevated from 'Textile Manchester' to 'Textile Capital of Pakistan' contributing approximately 50 percent of the total national textile exports. He further added, the volume of bilateral trade between Pakistan and Russian Federation is approx. $432.7 million in 2012, but this is not as high relative to the size of their economies. During the year 2012, our total exports to Russian Federation were USD186.19 million whereas total imports stood at $246.51 million, thus the balance of trade were in favour of Russian Federation.

Russia has a huge market and the country depends to a large extent on imports for textile and clothing items, Pakistan's share in Russian imports is insignificant which is $100 million at the moment, which is quite a meager compared to Russia imports about $10.775 billion of textiles and garments, he said. He proposed, exchange of business delegations composed of sector-specific participants or product-specific group of entrepreneurs be organised regularly. At the end of meeting Vice President FCCI Chaudhry Muhammad Asghar offered vote of thanks while Senior Vice President FCCI Riazul Haq presented FCCI shield to the guest.
'Russia wants to enhance economic ties with Pakistan' | Business Recorder

 

[salman77]

China to establish metal processing unit in Risalpur

A Chinese mining firm will establish a metal processing unit in Risalpur with an initial investment of thirty million dollars. With the setting up of the mining factory, copper sulphite, copper oxide, lead, silver, gold, zinc and antimony used in electronics would be exploited in Upper and Lower Dir, Chitral, Kohistan and Gilgit and Waziristan areas and transported to the factory for purification.

The processing unit would hire four hundred employees from the local people, Radio Pakistan reported on Saturday. Export Promotion Zone, Risalpur is a federal government initiative and investments from abroad and from within the country is processed by the Federal Ministry of Commerce.

The Khyber Paktunkhwa Government has also assured full co-operation in pursuing their business endeavours in the province and hoped that more foreign investors would take a cue from the Chinese firm and invest in the natural resources sector of the province to take benefit of its vast potential.

China to establish metal processing unit in Risalpur | Business Recorder

 

[Uzair Younus]

Without true economic reforms, our economy is doomed

The government is pursuing an expansionary fiscal policy that is wreaking havoc. The money supply from 2012 to 2014 is going up by ~30% and much of it has been printed to clear the circular debt. Also, this circular debt is reemerging, showcasing that true structural reforms needed in the energy sector have not been implemented.
Furthermore, the finance minister recently accepted that effrots to raise tax-to-GDP ratio have been not as successful. This expansionary fiscal policy means that the State Bank has to use scarce reserves to shore up the rupee. I expect rupee to be north of Rs. 115/US$ by end of 2014.
Opposition parties, including PTI are to be blamed for failing to table any reform-oriented bills in Parliament. Yes, they cannot get things done without the government, but at least can table bills to start discussions and show an alternative.
You can read more of what I have to say on this subject by clicking here

 

[CrazyPaki]

Without true economic reforms, our economy is doomed

The government is pursuing an expansionary fiscal policy that is wreaking havoc. The money supply from 2012 to 2014 is going up by ~30% and much of it has been printed to clear the circular debt. Also, this circular debt is reemerging, showcasing that true structural reforms needed in the energy sector have not been implemented.
Furthermore, the finance minister recently accepted that effrots to raise tax-to-GDP ratio have been not as successful. This expansionary fiscal policy means that the State Bank has to use scarce reserves to shore up the rupee. I expect rupee to be north of Rs. 115/US$ by end of 2014.
Opposition parties, including PTI are to be blamed for failing to table any reform-oriented bills in Parliament. Yes, they cannot get things done without the government, but at least can table bills to start discussions and show an alternative.
You can read more of what I have to say on this subject by clicking here

if you had seen Nisar's statement a few weeks back about the government not coming to the assembly to debate on these issues and the problems that were brought into the parliament were mostly ignore by the government or given a laughable answer

 

[salman77]

Pakistan becomes third largest exporter of dates

Pakistan has become the third largest country in the world that is exporting dates to the rest of the world and with proper attention and appropriate interventions this sector can flourish manifold. The date sector offers substantial opportunities for export, income and employment generation in addition to economic growth of the country, said an official of Ministry of Commerce and Textile while talking to APP here on Friday.
The annual production of dates in Pakistan is estimated at around 535,000 tonnes of which only 86,000 tonnes are exported and the rest are either consumed locally or perish, he informed.
Chief Executive Officer Harvest Trading Ahmad Jawad told media that Pakistani dates exports could be raised to $200 million from the current $28 million with proper processing and packaging. Since 1999, per acre yield of dates in Pakistan did not increase much, whereas world-wide production increased by 166 percent, he added.
Highlighting the problems, the CEO said the country lacked storage facilities and so exported some quantity of dates while the rest perish. Thus due to these problems the country had to import dates during the month of Ramzan. "Importers of dates such as Germany, Denmark, India, Nepal, USA, UK, Afghanistan and Canada are re-exporting Pakistani dates after quality enhancement and preparation of by-products, at a price that is four to six times higher than their import price," said Jawad.
"Of the 300 varieties of dates produced in Pakistan, Begam Jangi of Balochistan, Aseel of Sindh and Dhakki of Dera Ismail Khan are the varieties which are sought after the world over due to their exotic taste," said Jawad. He further said that dates could fetch many more millions of dollars if focus was given to value addition such as the use of dates in preparing date sweets, jams, chocolates and other products.
Even the damaged crop is used for medical purposes and date oil is fit for use in cosmetics. He maintained that the usage of dates increases during the winter season thus its price and demand surge. Another report by the USAID revealed that lack of awareness about the best farming practices, improper fruit handling techniques, and an absence of developed processing facilities are major constraints inhibiting profitable date production in Pakistan. Ghulam Farid, a date farm owner stated that usually the harvest season of dates starts in July in upper Sindh during the monsoon season; they remain safe due to lack of rain in these areas during harvesting.

Pakistan becomes third largest exporter of dates | Business Recorder

 

[salman77]

Pakistan receives $4m rice export orders from China

KARACHI: Pakistani rice exporters have managed to secure $4 million worth of export orders of the commodity from China during the recently concluded visit of rice exporters to the country auguring well for future of commodity’s export.
This was stated by Rice Exporters Association of Pakistan (REAP) Senior Vice Chairman Chela Ram KK, while briefing members of the REAP about the salutary aspects of the 11 days tour of a rice exporters delegation to China comprising 25 members which concluded on January 15.
The delegation during their visit had extensive meetings with traders in China’s cities of Beijing, Guangzhou, Shenzhen and Zhongshan. The response displayed by the Chinese importers for Pakistani rice is overwhelming as compared to rice imported from Thailand and Vietnam as the Pakistani quality has drawn attention of Chinese importers which appear to be inclined for importing bulk of the volume during the coming season.
He said last calendar year, Pakistan’s total rice export to China starting July 2012 to June 31, 2013 was worth $244 million weighing around 5.89 metric tonnes.
With the successful current visit of the REAP delegation to China with enhanced access to rice importers and efforts to create further room for export of Pakistani rice in that receptive market, the export volume can be anticipated to surge sharply. “We had very interactive and fruitful meetings with China’s concerned authorities and leading rice buyers as Chinese people like Pakistani rice due to its quality and aroma,” he added.
He hoped that the dream of exporting around 10 million tones of irri-6 rice to China can be transformed into reality if sustained efforts to market Pakistani rice to China are pursued with vigour as the target is achievable in view of more than 1.3 billion Chinese population.
The REAP vice chairman informed that the overall export of Pakistani export during the current calendar year starting from July 2013, appears very encouraging as until December 2013, the total export volume stands at 159,000 metric tonnes valuing around $56 million.

Pakistan receives $4m rice export orders from China