Pakistan has unveiled a new price support mechanism, including potential financial bridging, to ensure its rice exports remain competitive in an increasingly crowded global market as it formally seeks to expand sales to the Philippines.
The initiative comes on the special directions of Prime Minister Shehbaz Sharif to secure new agreements for the country’s surplus rice stocks ahead of upcoming procurement tenders in Manila, according to a report today.
During a crucial meeting on Friday, Federal Minister for Commerce Jam Kamal Khan informed the Philippine Ambassador, Dr. Emmanuel R. Fernandez, of the government”s plan, stressing that a strong agricultural output has left Pakistan with ample high-quality reserves available for export.
Minister Khan noted that the re-entry of major suppliers into the international arena has intensified price competition. He emphasised that the new government framework is designed to ensure Pakistani rice can closely match prevailing market prices, thereby assuring buyers of both quality and quantity.
Ambassador Fernandez welcomed Islamabad”s proactive outreach, describing it as a positive step for deepening bilateral trade and investment relations. He acknowledged Pakistan”s longstanding position as a top-three rice supplier to his country and noted the strong potential to increase its market share.
Discussions also centred on a draft Memorandum of Understanding (MoU) being negotiated between the two nations. This agreement envisages a multi-year, government-to-government procurement framework. A Pakistani delegation is scheduled to visit the Philippines shortly to expedite the finalisation of the MoU.
The ambassador confirmed that rice trade would be a high-priority item on the agenda for the upcoming session of the Pakistan-Philippines Joint Economic Commission (JEC), expected to be held in February.
Beyond rice, the commerce minister also expressed Pakistan’s interest in expanding its exports of kinnow (mandarin) and requested that associated tariff issues be addressed through institutional channels like the JEC.
Both officials reaffirmed their commitment to close coordination to translate the talks into tangible outcomes, reflecting a shared objective of strengthening trade relations in key agricultural commodities.