KARACHI: Federal Commerce Minister Jam Kamal Khan announced on Saturday that on the first day of FoodAg at Karachi Expo Centre, Memorandums of Understanding (MoUs) worth $107 million were redeemed and MoUs worth $434 million were inked.
“This demonstrates that trade and business in Pakistan are operational, refuting the notion that this nation is not regarded as an attractive investment destination by the global community,” the minister stated.
FoodAg began on Friday and ran for three days, ending on Sunday.
The events of today demonstrate the interest that Pakistan has received on a global scale as a commercial partner. Jam Kamal Khan noted that foreign delegations are keen to investigate prospects and establish robust trade connections with us.
Jam Kamal demands dedication to increase investment and commerce in agriculture.
Participating in the spectacular are 350 Pakistani firms and about 800 delegates. Approximately 75 nations are participating in the tournament.
Despite being the backbone of the nation’s economy, he claimed that agriculture had not yet reached its full potential. He said that small and medium-sized agricultural enterprises from all around the nation are catered to by the event.
The minister stated, “The presence of well-known chefs from other nations indicates their interest in Pakistani food and hopefully they will spread good word about this country upon their return home.” “This will contribute to increasing demand overseas for Pakistani food products.”
According to Jam Kamal Khan, the large attendance at FoodAg demonstrated that investors were willing to place their money in safe havens and that it was feasible to close the trust gap that political unrest and security worries had accumulated over time.
Jam Kamal had earlier spoken at a trade conference between China and Pakistan at FoodAg, where he urged dedication to boosting trade and investment in agriculture.
He emphasized the significance of working with China to fully use the nation’s agricultural potential.
The trade minister stated that Pakistan’s agro-based sector has enormous potential to be transformed, productivity may be increased, and exports of higher quality thanks to China’s experience in agricultural innovation and technology.
In order to improve agricultural cooperation, he presented a number of proposals, such as the creation of the Pak-China Agricultural Cooperation Center, the creation of CPEC agricultural demonstration zones, and investments in cold chain logistics to lower post-harvest losses.
