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Saturday, December 28, 2024

PH, Pakistan eye rice deal by June 2025

The Philippines and Pakistan expect to reach a final agreement by June 2025 on the allocation of at least 1 million metric tons of rice annually from Pakistan to meet a quarter of Filipinos’ import needs for the staple food.

Agriculture Secretary Francisco Tiu Laurel Jr. and Pakistan Ambassador to Manila Imtiaz Kazi agreed to explore key opportunities for strengthening agricultural trade between the two nations during a meeting on Dec. 16, 2024,

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Kazi emphasized Pakistan’s growing role as the Philippines’ third-largest rice supplier, after Vietnam and Thailand.

He proposed a commitment to provide 1 million metric tons of rice per year at a competitive price, an agreement to can grow into a strategic partnership that could provide security to Philippine rice import.

The Pakistani envoy also suggested formalizing the partnership with a memorandum of understanding (MOU), and the possibility to finalize the agreement by June 2025.

Kazi inquired about the continuation of the reduced tariff on imported rice, to which the DA indicated that an extension until 2028 could be considered, if necessary.

Kazi encouraged the Philippines to explore exporting fresh produce such as mangoes, bananas, and durian to Pakistan’s large Muslim market, while Tiu Laurel expressed interest in learning from Pakistan’s advanced agricultural practices, especially in irrigation, post-harvest technology, and Halal certification.

The two officials expressed intent on diversifying trade between their countries.

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