KARACHI - Honorary Consul General of Pakistan in Madagascar Yavar Houssen Abdoul Rassoul has said that the Madagascar is a potential market for Pakistani rice. He said that rice is the staple food in Madagascar and it is being imported from Pakistan as well as Burma and Vietnam. He was talking to a trade delegation that called on him under the leadership of Rafique Suleman, Vice Chairman of REAP. Other members of the delegation were: Arshad Khaliq, deputy leader of the delegation, Hussain Khandwala, convener of the delegation, Muhammad Bashir, Gopal, Ashok Kumar, Abdul Haleem, Abdul Rauf, Mahesh Kumar Talreja, Kashif Shaikh, Waqas Aslam, Fayyaz Aslam and Shahid Tarer. Yavar Houssen Abdoul Rassoul, Honorary Consul General of Pakistan in Madagascar, briefed the REAP delegation that import of rice starts from September and three years ago, Madagascar had imported around 300,000 Metric Ton, but after increasing the local rice crop, this comes to 120,000 M/Tons. He advised the delegation that there is a good opportunity for Pakistani rice exporters to capture the Madagascar market. Further he told that due to the local rice production, Rates of Rice are quite stable in Madagascar. He was hopeful that after the arrival of first ever delegation of Rice Exporters from Pakistan, the import of rice from Pakistan will definitely increase. Rafique Suleman, Vice Chairman REAP and leader of the delegation, informed that Pakistan has exported 91,707 tons of rice valuing $.31 million during last fiscal year i.e. 2009-2010. Further, he appreciated Trade Development Authority of Pakistan to play a vital role for the guidance and support of Pakistani rice exporters. Rafique urged Pakistani banks to open their branches in Madagascar, so that Pakistani exporters may be facilitated to open the Letters of Credit (L/C) and other problems being faced regarding their payments. He further appreciated the efforts of Yavar Houssen Abdoul Rassoul, Honorary Consul General of Pakistan in Madagascar for the betterment of rice export trade from Pakistan to Madagascar.