Published On: Mon, Aug 21st, 2017

CPEC Aims to Target $100 billion Chinese Agri Market

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Chinese Agri MarketAccording to Punjab agriculture secretary, the China-Pakistan Economic Corridor (CPEC) is an opportunity for development of this region and Pakistan should reorganize its agriculture sector to get a major slice of the $100 billion worth of agriculture produce imports, Chinese agri market by China.

At the launch of “CPEC – Prospects & Challenges for Agriculture” the secretary said that nearly one-fourth of the world’s population was living in China and most of its exports would be routed through Pakistan after the completion of CPEC. He added that containers full of exportable surplus will be sent to various international markets, but on their return, these containers will be empty and it was an opportunity to capitalize and export Pakistan’s surplus agriculture produce to China.

There has been an increase in the per capita income of China which has brought a notable change in the people’s lifestyle and food habits. Chinese people also prefer rich and costly food and fruits now, this could be an advantageous position for Pakistan.

More and more high value crops are being cropped, Potohar region has been specified with planting grapes and other high-end value crops for the next 10 years in the one lakh acres of land.

Major Chinese importers will also be invited to utilise this land for growing high-value fruits in addition to developing the agriculture processing industry on modern scientific lines.

The collaboration will be beneficial for our farmers as they would get an opportunity to upgrade their technologies and develop agriculture as a profitable business by eliminating old practices of farming.

He suggested that Pakistan should renegotiate the bilateral trade agreement and a meeting was expected in the current or next month. After that, Pakistan would be in a position to decide which strategy is suitable for Pakistan to enhance its share in Chinese imports.

Responding to a question about a research project on the China-Pakistan agricultural technical cooperation, the agriculture secretary insisted that the Punjab Agriculture Research Board was extending liberal grants to the viable projects planned by the public and private sectors.

He shared that initially, Rs259 million had been allocated for this purpose. The funding was immediately increased to Rs750 million and it would be further enhanced to Rs3 billion in the next three years.

He asked the Faisalabad Chamber of Commerce and Industry president to send the project to the research board where a group of experts would review its viability and approve the requisite grant.

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- An enthusiast working in Dubai as an Assistant Operations Manager. Writing about Pakistan and the latest happenings, trends around the globe is my passion. A dreamer, learner and a major foodie.