Bangladesh signs MoU with Pakistan for rice import

Bangladesh has signed a memorandum of understanding (MoU) with Pakistan to import atap (parboiled) rice on a government-to-government (G2G) basis.

Trading Corporation of Pakistan Chairman Syed Rafeo Bashir Shah and Director General of the Directorate General of Food Md Abdul Khaleque signed the MoU at the conference room of the Ministry of Food here, said a ministry press release.

The MoU is expected to open a new horizon in stabilising the domestic rice market and strengthening economic and trade relations between two countries, the release added.

Food Secretary Md Masudul Hasan, Special Secretary of the Ministry of Commerce of Pakistan Shakeel Ahmed Mangnejo, Pakistan's High Commissioner to Bangladesh Syed Ahmed Maroof and other senior officials from both sides were also present at the signing ceremony.

Following the MoU signing, the Pakistan High Commissioner paid a courtesy call on the Food Adviser Ali Imam Majumder and discussed bilateral trade ties.

The price of rice has risen by Tk6-10 per kg over the past month, despite the peak Aman season, leaving consumers struggling to manage the increasing expenses. 

To stabilise the market, the government has targeted importing rice from global sources and scrapped import duties to facilitate imports of the key staple.

According to sources at the food ministry, the government plans to import 1.75 lakh tonnes in January and a total of eight lakh tonnes for the rest of the fiscal year ending in June.