In a crucial move to tackle the rising rice prices, Bangladesh has signed an agreement with Pakistan to import non-basmati white rice, commonly known as Atap rice. This deal was made on a Government-to-Government (G2G) basis, with the Memorandum of Understanding (MOU) signed by the Trading Corporation of Pakistan and Bangladesh’s Directorate General of Food (DGoF).
Rice prices in Bangladesh have increased by 15-20% in recent weeks, putting pressure on consumers. Currently, coarse rice is being sold at Tk 60-62 per kilogram, medium varieties at Tk 68-72, and finer rice at Tk 78-94, making it harder for many to afford this staple food.
The agreement was signed in the presence of high-ranking officials from both countries, including Sayed Rafio Bashir Shah, Chairman of the Trading Corporation of Pakistan, and Md. Abdul Khaliq, Director General of DGoF Bangladesh. Bangladesh’s Food Secretary Md Masudul Hasan and Pakistan’s Commerce Secretary Shakeel Ahmed Mangnejo were also present, along with other dignitaries.
To make imports smoother and more affordable, Bangladesh has removed all import duties on rice. This step aims to increase supply in the market and bring down prices for consumers.
This trade deal is expected to not only stabilize the rice market but also strengthen the economic and trade ties between Bangladesh and Pakistan, showcasing a positive collaboration between the two nations.
Source: The Financial Express
