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Pakistan PM signs Gaza Board of Peace charter at World Economic Forum in Davos

Pakistan’s Prime Minister Shehbaz Sharif (left) speaks with US President Donald Trump at the “Board of Peace” meeting during the World Economic Forum (WEF) 2026 in Davos on January 22, 2026. (AFP)
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Updated 22 January 2026
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Pakistan PM signs Gaza Board of Peace charter at World Economic Forum in Davos

  • Signing took place on the sidelines of World Economic Forum’s 56th annual meeting, attended by global political and economic leaders
  • Pakistan’s participation comes amid intensified international diplomatic efforts to address humanitarian and political fallout of the Gaza conflict
Updated 22 January 2026
Usama Iqbal Khawaja

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday signed the Gaza Board of Peace (BoP) charter along with other world leaders in Davos at the sidelines of the 56th Annual Meeting of the World Economic Forum (WEF) summit. 

Prime Minister Shehbaz Sharif attended the official signing ceremony at the Congress Center in Davos, marking Pakistan’s participation in the peace-focused platform amid continued international efforts to address the humanitarian and political fallout of the Gaza conflict.

US President Donald Trump spoke at the event about the BoP but offered few details about its mandate and how the panel will work or might pursue efforts to end conflicts. He hailed the board as “something very, very unique for the world.”

“On the occasion of the 56th Annual Meeting of the World Economic Forum, the Gaza Board of Peace is being formally signed,” Sharif’s office said in a statement. “Pakistan will also become part of the Board of Peace.”

Various world leaders walked in pairs and sat beside Trump on a table as they signed the charter. Sharif sat on Trump’s right side and shook hands with him. He spoke to the US president briefly before signing the charter. 

As per international media reports, the representatives of 19 countries signed the charter with Trump. These included Pakistan, Argentina, Armenia, Azerbaijan, Bahrain, Bulgaria, Hungary, Indonesia, Jordan, Kazakhstan, Kosovo, Mongolia, Morocco, Paraguay, Qatar, Saudi Arabia, Türkiye, UAE and Uzbekistan. 

Pakistan and seven other Muslim states announced in a joint statement on Wednesday that they had accepted Trump’s invitation to become a part of the Board of Peace body that aims to resolve conflicts, hoping for permanent ceasefire in Gaza. 

The Board brings together participating states and stakeholders seeking to support dialogue, stability and peace-related initiatives linked to the ongoing crisis in Gaza.

The White House last week announced the names of some members of the BoP to restore peace in conflict-ridden areas including Gaza, where a fragile ceasefire has been in place since October 2025. 

Chaired by Trump, the board would include US Secretary of State Marco Rubio, Trump’s special envoy Steve Witkoff, former British prime minister Tony Blair and Trump’s son-in-law, Jared Kushner. 

Israel announced on Wednesday its Prime Minister Benjamin Netanyahu will also be a member of the board.

Topics: Gaza Board of Peace World Economic Forum WEF Davos

Pakistan rice exports slump 40% as India’s return hits pricing power

Updated 24 February 2026
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Pakistan rice exports slump 40% as India’s return hits pricing power

  • Statistics show non-Basmati shipments have fallen over 50 percent in July-January period
  • Government offers 9 percent tax drawback on premium Basmati exports to support sector
Updated 24 February 2026
NAIMAT KHAN

ISLAMABAD: Pakistan’s rice exports fell 40.5 percent to $1.31 billion in the first seven months of the fiscal year, official data showed on Tuesday, as India’s return to the global market squeezed Islamabad’s market share and pricing power.

According to the Pakistan Bureau of Statistics (PBS), non-Basmati exports dropped 50.8 percent to $827.8 million, with volumes falling to 2.0 million tons from 3.15 million tons a year ago. Basmati exports declined 6.62 percent to $477.7 million, with volumes easing to 436,484 tons from 487,278 tons.

The Ministry of National Food Security told a parliamentary committee in two separate meetings in December and January that India’s re-entry into the global rice market was a key factor behind the decline, saying increased Indian supplies had made Pakistani rice less competitive.

Officials told lawmakers that India benefits from free trade agreements and provides substantial support to its rice sector, putting additional pressure on Pakistani exporters.

In response, the Ministry of Commerce last month issued a notification under the “Drawback of Local Taxes and Levies for Rice Order, 2026,” allowing a rebate of 9 percent of the free-on-board (FOB) value for Basmati exports priced above $750 per metric ton.

The government said the measure, announced on January 23, aims to ease liquidity pressures on exporters and improve competitiveness.

While PBS data for July-January shows a 40.5 percent decline, figures from the Federal Board of Revenue (FBR) for July-December show an even steeper 47 percent drop to $973 million from $1.82 billion in the same period last year, reflecting a deficit of over $800 million.

Industry representatives say they are now focusing on market diversification to counter the slowdown.

“Currently Basmati is mainly exported to Middle East and EU. Non-Basmati is exported to Philippines, Indonesia, Malaysia and African countries,” Malik Faisal Jahangir, chairman of the Pakistan Rice Exporters Association, told Arab News last week.

“For the new markets for our non-basmati rice exports, we are looking to increase our volumes to China, Philippines, Indonesia and Bangladesh,” he added.

Topics: rice Rice imports

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