Japan focusing on developing export base in Pakistan: envoy

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15th Jul, 2021. 02:33 pm
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ISLAMABAD: Japan was focusing on developing a strong export base in Pakistan and was looking beyond the traditional sectors of textiles and automobiles, a diplomat said.

During a call on meeting with Federal Minister for Finance and Revenue Shaukat Tarin Japanese Ambassador to Pakistan Kuninori Matsuda said that his country saw opportunities for investment in food processing, fishing and agriculture.

Japan was now embarking on a project of human resource exchange with Pakistan, under which the Japanese labour market would be opened for highly skilled Pakistanis, he said, adding that this would provide job opportunities to Pakistanis in Japan, especially in the areas of information technology and science.

The ambassador praised the new auto policy and said the Japanese businesses were encouraged by the incentives provided by the Pakistan government.

He also congratulated the finance minister on assuming his responsibilities on behalf of Japanese Finance Minister Taro Aso.

The ambassador said that Japan greatly valued its bilateral relations with Pakistan and briefed Finance Minister Tarin about the operations of the Japanese entities in Pakistan and expressed confidence that business and economic linkages would further strengthen between the two countries.

Both reviewed the entire spectrum of business and investment relations and identified areas for further strengthening and expanding economic cooperation.

Finance Minister Tarin welcomed the Japanese initiatives for developing the export base and assured of the government’s full support for the purpose.

The goods manufactured in the Special Economic Zones (SEZs) should be exported to Japan, he said, and also welcomed the Japanese initiative of exchanging human resources and suggested strong and close Japanese collaboration with the Ministry of Overseas Pakistanis, as well as Overseas Employment Corporation.

Pakistan and Japan enjoyed sound friendly relations since 1952, which have been getting stronger with each passing day, Tarin said, and lauded the cooperation extended by the government of Japan to Pakistan in the fields of education and infrastructure development.

Japan was one of the major development partners of Pakistan, he said, adding he firmly believed that the cooperation would further strengthen in multiple fields for the mutual benefit of the two countries.

The minister also highlighted the new auto policy and said it offered incentives to the new investors and would have a far reaching impact on the development of the auto industry in Pakistan.

With the introduction of the new auto policy, Japan had the opportunity to further its investments in the sector, which in turn, would be beneficial for the two countries, the finance minister said, adding that he wanted Pakistan be able to generate exportable surplus in spare parts, so the new investment would prove to be lucrative for Pakistan and Japan and invited the Japanese firms to start exporting automobiles from Pakistan.

The minister also thanked the Japanese government for debt relief under the second phase of G20’s Debt Service Suspension Initiative (DSSI).

Tarin assured the ambassador of his full support in improving the trade and economic relations between the two countries.

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