FPCCI voices reservations over Indian traders' demand

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Pakistan business community has shown reservations that Indians are asking for subsidies on rice. President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Ahmed Malik said that if the subsidy is granted it will imbalance the regional trade.

He further said that agricultural exporters should compete on the price and quality of their produce and not on the availability of subsidies, said a FPCCI statement here on Wednesday. Zubair Ahmed Malik informed that member nations during Doha Round agreed to ensure the elimination of all forms of subsidies.

He further stated that Indian demand for rice subsidies are highly trade distorting and direct form of agricultural support. He apprehended that granting subsidy to Indian rice will create disturb the trade in the region. It may possibly hurt the efforts being made by the business community of both sides to improve bilateral trade relations. Regions would face imbalance in the global trade particularly small members of the region.

Rice production in Pakistan holds an extremely important position in agriculture and the national economy. It is the second most important crop which brings economic prosperity of the growers as well as earns billions of rupees through its export for country. Pakistan is the world's fourth largest producer of rice, after China, India and Indonesia.

Courtesy: BR

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