Pakistan govt to support exporters to establish business ventures between Pakistani, Chinese Seafood Companies

Karachi: Pakistani Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh has said that the government will support exporters for the establishment of business ventures between Pakistani and Chinese Seafood Companies.

A meeting was chaired by the Federal Minister for Maritime Affairs with fish exporters to explore the opportunities and avenues for the establishment business venture between Pakistani and Chinese Seafood companies held at the Pakistan National Shipping Corporation (PNSC) building.

The Board of Investment (BoI) presented the report on the fisheries and aquaculture sector as a food commodity in the country.

On the occasion minister for Maritime Affairs Qaiser Ahmed Shaikh applauded the efforts of BoI for presenting the report and thanked the exporters for their attendance and support.

He assured that Government will support exporters for the establishment of business ventures between Pakistani and Chinese Seafood Companies, said in the report analysis encompasses all the broader aspects which is leading to the avenues for the investment opportunities in the sector.

The highlights of the report evidently indicated opportunities and avenues of investments in the sector of fisheries and aquaculture between Chinese and Pakistani seafood industry.

The key opportunity for the development of the sector are Aquaculture and Shrimp Farming. Products focus on shrimp, crab and tuna lining. There is an enormous potential for the aquaculture, shrimp and crab farming due to high yield and profitability.

Fish has a potential to be high value through improved handling and processing. It is highlighted that the seafood market of US is very lucrative having an import worth amounting US $ 23 billion.

The trend of decline in the export of seafood from China to US was found due to several reasons such as additional tariff rates up to 25%. The above said barrier for China to the seafood exports creates opportunities for Pakistan to explore US market with same product line.

The exporters showed their gratitude for arranging the meeting on this important issue and showed their readiness for the establishment of business with Chinese companies.

Majority of the exporters informed that they are already in the process of negotiations with their Chinese counterpart for bringing the investment in Pakistan through joint venture model.