Pakistan and China likely to sign a deal for investment in agriculture sector – Research Snipers

Pakistan and China likely to sign a deal for investment in agriculture sector

Pakistan and China might sign a deal for investment in agriculture sector under the China-Pakistan Economic Corridor (CPEC). The aim is to explore the neglected agriculture market of Pakistan and enhance its production to feed the growing Chinese population.

According to the Ministry of Planning and the Ministry of National Food Security, the deal might get signed during Prime Minister Imran Khan visit to China in November.

According to the officials if the deal is finalized it will be a ‘government-to-government sovereign deal’. The goal of this agreement will be to increase production in agriculture sector and export products to China.

It is possible that the Chinese firms give buy-back guarantees to farmers as they buy grains from them. Chinese investment will be in collaboration with Pakistani companies but they will not be allowed to purchase land.

This new development has come at a time when the mega CPEC project is being criticized by western institutions. It may soon be inspected by the International Monetary Fund (IMF).’

Must read: $28 billion worth 22 CPEC projects completed in 4 years

A Chinese delegation headed by the Vice-Minister for Agriculture and Rural Affairs MA Aiguo has met the Federal Minister for Planning and Development Makhdoom Khusro Bakhtyar on their visit to Pakistan.

Bakhtyar said that collaborative effort, cold chain management for fruits and vegetables, proper marketing strategies will increase the export of Pakistan agriculture items to China and other nations.