12 Dec

Dawood For Better Pak-Japan Trade, Investment Ties

Abdul Razak Dawood, Adviser to the PM on Commerce,  has underscored the importance of furthering trade and investment ties between Japan and Pakistan.

A seminar titled “Trade & Investment Opportunities in Pakistan” was held today at the Ministry of Economy, Trade & Industry (METI) of Japan. 

It was jointly organized by Japan External Trade Organization (JETRO), METI, Pakistan’s Ministry of Commerce & Textiles and the Embassy of Pakistan in Japan.

 The seminar was over-subscribed with around 200 participants primarily from the Japan business community in attendance, says a press release received from Tokyo here today.

 Yasushi Akahoshi, President of JETRO followed by Mr. Akimasa Ishikawa, Parliamentary Vice Minister of METI made the opening remarks. Mr. Teruo Asada, Chairman, Japan-Pakistan Business Cooperation Committee and Chairman, Marubeni Corporation also delivered a speech on trade and investment cooperation between the two countries. 

 While highlighting Pakistan’s economic credentials like positive macro- economic trends, growing potential of the local market, vibrant demography, low productivity costs, availability of rich natural resources and a liberal investment regime, Daweed underscored the importance of furthering trade and investment relations between Japan and Pakistan. 

He added that out of all the G-7 countries, Pakistan had a long standing trade and investment relationship with Japan and that there was a need to build upon the reserve of historical linkages, goodwill, understanding and respect for brand Japan in Pakistan. 

The adviser also elaborated the economic agenda of the new government under the leadership of Prime Minister Imran Khan and how it was determined to overcome the current economic challenges through peace oriented, investment friendly, development focused and people centered strategies. 

Advisor while underscoring that the balance sheets of Multi National Corporations in Pakistan itself reflect that they are making profits, invited Japan businesses to explore the huge opportunities in trade and investment in Pakistan.

 Pakistan’s massive investment in infrastructure projects with the potential to make Pakistan a regional hub for trade and investment was highlighted. 

The advisor underlined that Pakistan had graduated from its traditional sectors of textile and leather to the export of engineering goods. He called for taking advantage of Pakistan’s strategic location for exports to the Middle East, Africa and Central Asia. 

He also invited Japanese companies to look into the IT Sector, small and medium enterprises and agriculture value chains for investment. 

The current presence of 86 Japanese companies in Pakistan with some enhancing their investments while new ones entering the Pakistani market coupled with JETRO’s recent annual survey ranking Pakistan as the first in terms of business growth expectation, profitability and local employment was also highlighted.

 The seminar concluded with an inquisitive Q&A Session followed by well attended networking session between the visiting Pakistani businessmen and local Japanese businesses. 

Originally published on www.thenews.com.pk


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