Pakistan has been reeling under a massive economic crisis with the country's rupee recording a historic low of 275 to the US dollar, inflation rising to over 27 per cent and foreign exchange reserves dropping to the lowest level since 1998 at around USD 3 billion which is not enough even to cover a month's imports
A large trade deficit with China has Pakistan looking to address structural barriers that are preventing it from fully capitalising on China’s need for agricultural goods such as rice and other staple foods.