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HomeBusinessPakistan requests China to raise rice import quota to 2 million tons.

Pakistan requests China to raise rice import quota to 2 million tons.

Pakistan has asked China to increase its rice quota to 2 million tons. During Prime Minister Imran Khan’s recent visit, Pakistan requested not only duty concessions but also a specific focus on enhancing the quota for rice and other sectors.

In the current fiscal year 2021-22, Pakistan has exported rice worth $2.1 million to China, compared to $2.29 million in the same period last year.

Sources revealed that Pakistan has also urged China to eliminate the 4% duty on cement imports. According to the Free Trade Agreement (FTA-II), Pakistan can enjoy duty-free exports of cement to China after a period of 3 years. This move aims to address the growing trade imbalance, which has reached $32 billion in the first eight months of the current fiscal year.

Furthermore, Pakistan has requested China to expedite the process of mutual recognition agreements for agriculture and animal products. In addition, Pakistan seeks to shorten the tariff elimination period under the China-Pakistan Free Trade Agreement, reducing it from 10 to 7 years and from 20 to 15 years, respectively, under CPFTA-II.

Pakistan has also proposed a continuous bilateral trade opening from the Khunjerab Pass to facilitate trade. The Ministry of Commerce is currently awaiting China’s response to these proposals.

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