KARACHI: Minister Jam Kamal Khan while talking to the media appreciated FoodAG 2024 for running an extremely well organized platform that brings together the business community, traders and manufacturers from Pakistan and beyond. He was proud to note the participation of around 800 delegates and the participation of 350 Pakistani companies and around 450 stalls offering small businesses from the region, which he described as a great success for Pakistan. 75 countries participating in this generous trade event signifies the success of confidence in Pakistan’s trade sector.
“Agriculture is a sector that forms the backbone of our country, but its vast potential needs to be explored. The event involved small and medium business owners from remote areas and the interior of the country from Musakhel to Panjgur. These agri-food festivals are not only a means to expand Pakistan’s business capacity but also enable the common man to become self-reliant and financially independent by engaging in home/small businesses that can be easily developed while contributing significantly to the overall growth of Pakistan.”
“Trade is the backbone on which our country rests, this remarkable three-day event demonstrated that Pakistan has a huge capacity to add value.” He lauded the exhibition for connecting foreign delegates, media and regulators from 55 countries with Pakistani exporters and generating thought-provoking ideas and long-term partnerships aimed at transforming the global food landscape.
“The world-renowned chefs attending this hugely successful event is also a reflection of how the food and agriculture industry is gaining momentum, encouraging international chefs to focus their interest on Pakistani cuisine and take it with them. This will help create an international demand and thus a market for Pakistani food products and cuisine across the world,” the minister said.
To a question related to the trade deficit and lack of confidence of foreign investors, Minister Jam Kamal Khan elaborated that this event at the largest level of trade delegate participants signifies the major role played by companies and their willingness to participate. This reinforces the improvement in the confidence deficit that was created in previous years due to several concerns, including security and political stability. He further noted that Pakistan has experienced a remarkable increase in exports during the financial year 2023-2024, attributing this success to the joint efforts of the government and the business community. There is room to exploit many markets and to multiply the existing ones. Despite the challenges Pakistan faces, the Ministry of Commerce and TDAP have been able to make a huge leap in the trade market from USD 5 billion to USD 8.5 billion.
“Pakistani traders have the capacity not only to expand but to penetrate new areas of business creation. TDAP and our traders have worked tirelessly to ensure that existing potential is not wasted. The trade is largely dependent on the grower and is not entirely based on the willingness of the traders, it becomes a tangled web of negotiations that is carried out by the Department of Commerce.” He stated while responding to a query.
Returning to the event, he expressed his gratitude for the success of the event: “So far $107 million worth of MoUs have been implemented, while $434 million worth of MoUs were signed on the first day of the event. This was just the result of the two-day response to this successful event, which shows that business and commerce in Pakistan works contrary to the general perception of mistrust that is rumored to have spread.”
“Today’s event is proof of international interest in Pakistan as a business partner. Foreign delegations are eager to explore opportunities and build stronger trade relations with Pakistan,” he concluded.
