Jun 09, 2016
Last week ASA/WISHH Division Director for Asia Alan F. Poock was invited to attend the fourth annual U.S. – Pakistan Business Opportunities Conference in New York City. Agricultural is an important sector in Pakistan’s economy, comprising of 28 percent of Pakistan’s GDP and employing 45 percent of the country’s labor force. Unsurprisingly, it was one of four focus area at this year’s conference.
Poock was on the agricultural breakout session panel, where he shared the recent growth in U.S. soybean exports to Pakistan and the long-term view required to develop emerging markets. At the conference, Poock also met with USAID, USDA, the chairman of Nestle Pakistan and the chairman of the Pakistan Poultry Association. The poultry and dairy sectors are increasing their consumption of soybean meal.
ASA/WISHH utilized USDA funding to develop this emerging market; as a result, Pakistan imported over 300,000 MT of whole soybeans and 45,000 MT of soybean meal in 2015. Due to this growth, Pakistan is the second market to transition from ASA/WISHH to USSEC, which will take place this October. These transitions show that ASA/WISHH is a trailblazer for the U.S. soy family.