DUBAI, Dec. 13- “Through in-depth cooperation in the transfer of advanced technologies and industries, increasing production and expanding exports, China-Pakistan agricultural industry cooperation can not only ensure the demand and supply of China, but also create job opportunities and foreign exchange reserves for Pakistan.
Through concrete project cooperation, both sides can better enhance the economic integration and people-to-people exchanges,” highlighted Peter Huang, Commercial Head of Litong Economic Corridor Co., Ltd (LTEC) at the ongoing COP28 held in Dubai.
Peter Huang at COP28
He noted that COP28 is likely to have a positive effect in promoting the sustainable development of agriculture in both China and Pakistan, as more than 100,000 people are expected to participate in COP28, including more than 140 heads of state and policy makers. “As one of the countries most affected by climate change in the world, Pakistan is expected to receive international attention at COP28 and such efforts will play a positive role in the sustainable development of agriculture in China and Pakistan,” he added.
Sustainable agricultural cooperation between China and Pakistan is of great significance to the two countries. Pakistan is an agricultural country, with agriculture employing around 40% of the population and accounting for about 23% of the agricultural GDP. Successful cooperation between China and Pakistan in agriculture can better benefit ordinary farmers in Pakistan.
On the other hand, Pakistan’s large-scale agricultural exports can create foreign exchange reserves for Pakistan and play a certain balancing role in Sino-Pak trade. In addition, the stable supply of agricultural products in the market through Sino-Pak agricultural cooperation can promote the integration of Pakistan’s agricultural and food industries, bring in value-added industries such as food processing to meet local demand, reduce imports and realize value-added exports.
As the operating company of the first batch of agricultural projects of China-Pakistan Economic Corridor (CPEC), LTEC has rich resources and long-term industrial planning in the agriculture and food industry, and the company has the layout of the whole industrial chain in agriculture from seeds to tables. Peter stressed that Pakistan is heavily affected by climate change, and the precise matching of crop characteristics and planting times needs to be considered in the country’s planting planning.
He expressed optimism over the trend of Sino-Pakistan agricultural cooperation, stressing that industrialization of agriculture is the main direction. “LTEC plans to reach the annual export target of 200,000 tons of dried chili within five years, gradually increasing production capacity according to the decomposition target, giving priority to exports to China, while radiating the international market. And in 2025 it will start the construction of China-Pakistan food industrial park, including tomato sauce, animal oil refining and other related agricultural and food industries landing,” he concluded.
