FoodAG 2024 at Expo: Trade is the spine on which our country relies, Jam Kamal

Karachi - 10 August 2024 (Nasir Abbas) : Speaking to the media, Minister Jam Kamal Khan lauded FoodAG 2024 for managing an extremely well orchestrated platform that brings together the business community, traders, and manufacturers from Pakistan and beyond. He proudly noted the participation of approximately 800 delegates and 350 Pakistani companies have engaged and approximately 450 stalls offering small business holders from the region, calling it a major achievement for Pakistan. 75 countries that partook in this magnanimous trade event signify the success of trust in Pakistani trade sector. “Agriculture is a sector that forms the backbone of our country, yet it remains to be explored to its extensive potential. The event catered small to medium business owners from far flung areas and the interiors of the country ranging from Musakhel to Panjgur. This Agro-food festivity is not only a means to expand the trade capacity of Pakistan, but also enable the common man to become self sufficient and independent financially through engaging in home based/ small businesses that can easily be taken up meanwhile adding greatly to the overall growth of Pakistan.” “Trade is the spine on which our country relies, this remarkable event of three days has proven that Pakistan has a huge capacity for value addition.” He praised the exhibition for connecting foreign delegates, media, and regulators from 55 countries with Pakistan’s exporters, generating conducive ideas and long-term partnerships aimed at transforming the global food landscape. “World renowned chefs that are visiting this exceedingly successful event, is also a depiction of how food and agriculture is gaining momentum and encouraging international chefs to direct their interest towards Pakistani cuisine and to take it back with them. This will assist in creating an international demand and thus a market for Pakistani food products and cuisine, globally,” The Minister Stated. On a query related to trade deficit and lack of trust of foreign investors, Minister Jam Kamal Khan clarified that this event at the biggest stage of business delegates attendees signifies the major role being played by companies and their willingness to attend. This reinforces the betterment of trust deficit that was created in the previous years to due several concerns- including security and political stability. He further noted that Pakistan has experienced a remarkable surge in exports during the financial year 2023-24, attributing this success to collaborative efforts by the government and the business community. There is a scope for many markets to be tapped and those existing to multiply. Despite the challenges faced by Pakistan, The Ministry of Commerce and TDAP have been able to pull a gigantic leap in the trade market from $5 Billion to $ 8.5 Billion. “Pakistan traders have capacity to not only expand but tap into new areas of trade generation. TDAP and our traders have worked tirelessly to ensure that the existing potential doesn’t go to waste. Trade relies heavily on the grower and not entirely based on the willingness of traders, this becomes an intertwined web of dealings that is being undertaken by the Ministry Of Commerce.” He stated as he addressed a query. Circling back to the event, he expressed his gratitude at the success of the event, “$107 million worth of MOUs have been realised so far while $434 million worth of MOUs were signed over the first day of the event. This has just been the result of a two day response to this successful event, which goes to show that trade and commerce in Pakistan is up and running unlike the general perception of mistrust rumoured to have pervaded.” “Today’s event is a testament to the international interest in Pakistan as a trading partner. Foreign delegations are eager to explore opportunities and build stronger trade ties with Pakistan,” he concluded.