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China Is willing To Work With Pakistan In Agriculture Sector

BEIJING: A China’s leading enterprise expressed willingness to explore opportunities in the agriculture sector of Pakistan to benefit both the countries.

This was stated by Pakistan Ambassador to China, Moin ul Haque who met with Richeng Luan, President of COFCO (China Oil and Foodstuffs Corporation) and held extensive discussion on Pakistan-China trade and investment ties.

Founded in 1949, COFCO is the leading Chinese enterprise in the agriculture and food industry, playing a major role in China’s imports of grain and other agro dairy products as well.

During the meeting, the two sides also exchanged views on possible collaboration between COFCO and Pakistan.

Ambassador Haque briefed President Luan about the growing trade ties between the two countries after the launch of phase-2 of Free Trade Agreement (FTA), which had given duty free access to large number of agro products.

He noted that Pakistan was a leading producer of grains and agro products like rice, wheat, sugarcane, cotton, potatoes, etc. which could be exported to China to meet its market growing needs.

The ambassador invited COFCO to consider investing in food processing business in Pakistan. A detailed briefing was also given on Pakistan’s investment policies for foreign enterprises in agriculture sector.

Richeng Luan expressed his keen interest in the Pakistani market and assured that COFCO stood ready to explore the opportunities in Pakistan and to get benefit from the attractive investment regime through the strong agriculture sector of Pakistan.