Agricultural trade gains unparalleled importance: President FPCCI

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ISLAMABAD, Sept 27 (APP):President of the Federation of
Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Tufail on
Wednesday said agricultural trade has gained importance in these
times offering new opportunities and challenges.
He said that Pakistan is also doing a lot to improve
agriculture while CPEC has opened our agricultural sector to Chinese
businessmen and other foreign investors promising them higher
returns,said in statement issued by FPCCI here.
Zubair Tufail said this while speaking at World Trade
Organization (WTO )programme titled, “Agricultural Trade in New Era”
at Geneva and while talking to delegates representing many
countries.
He said that the expansion of agricultural trade on a global
level has helped provide greater quantity, wider variety and better
quality food to increasing numbers of people at lower prices.
It is generating income for billions of people globally who
are directly or indirectly linked to it while Pakistan’s sixty
percent exports are linked to this sector, he added.
The FPCCI president said that agriculture is set to become an
important source of the foreign exchange for Pakistan necessary to
finance imports and development and it will ensure domestic food
security.
He said that hunger can be eliminated from the world if
agricultural policies of some major agriculture producing countries
are not influenced by local or national considerations but global
interests which is necessary to control widespread distortions in
world agricultural markets.
Many countries believe that agriculture should not be exposed
to international competition due to its vulnerability and political,
social and economic consequences which result in protectionism, he
said.
World moving slowly towards agri trade liberalization for
which domestic support must be reduced by all the countries in a
systematic manner, he said.
He suggested that farmers must be given cheap loans and
subsidies for purchasing fertilizers, pesticides and other inputs.
Commerce Minister Pervaiz Malik, Ambassador Dr. Shah and other
Pakistani officials were also present on the occasion who lauded the
speech of the president of the Apex chamber and his answers to the
questions raised by the participants in the forum.