Pakistan-China Agricultural Investment Conference Sees $4 Billion MOUs Signed, Says Federal Minister
Islamabad: Federal Minister for Food Security Rana Tanveer Hussain has said that Pakistan’s agriculture sector plays a significant role in the national economy, contributing 26% to GDP, with livestock accounting for 60% of the sector. Speaking at a press conference following the Pakistan-China Agricultural Investment Conference, he emphasized that the Prime Minister is giving special attention to the agricultural sector.
Rana Tanveer Hussain noted that while the sector has substantial potential, growth has not yet matched its capacity. He highlighted that remittances have reached $40 billion, and stressed the importance of agriculture in boosting exports. China has been identified as a key partner for agricultural development initiatives.
The conference, described by the minister as highly successful, saw participation from 85 Chinese companies. Agreements in agricultural technology, cold chain logistics, food processing, agrochemicals, and other areas led to 37 MOUs being signed during the event. In total, 75 MOUs valued at over $4 billion were concluded.
Minister Hussain said that CPEC Phase Two includes major investments in agricultural infrastructure, and that the government is achieving progress on economic, diplomatic, political, and military fronts. Key reforms in agriculture include the establishment of a Seed Authority for quality batches, improved fertilizer supply chains, and expanded farmer access to credit.
He added that loan recovery in the agriculture sector stands at 69%, and over the next three years, the government aims to double agricultural exports. Food security is being ensured, with wheat availability sufficient to meet domestic needs. Palm oil imports currently account for 89% of consumption, and rising global prices have increased import bills. Pakistan’s current agricultural exports stand at $8 billion, with a goal to double this figure within three years.
