Pakistan’s exports to Japan up 24.2% in first quarter
ISLAMABAD: Pakistan exported goods worth $50.6 million to Japan during the first quarter of the current fiscal year 2021/22, witnessing a growth of 24.21 per cent over the merchandise exports during the corresponding period of the last year, a statement said on Thursday.
The statement from the Embassy of Pakistan in Tokyo said that other than textile items, the major exports to Japan during July-September 2021/22 included agricultural and food products.
This indicates realisation of the export diversification strategy the embassy has been pursuing for the last two years, the statement added.
This trend is expected to gain further momentum once the Covid-19 pandemic-related logistical limitations start getting settled.
The statement also said achieving $50.6 million exports during the first quarter against $41.1 million last year, despite a large set of challenges being faced by the international trade owing to the pandemic, was mainly due to better awareness of Pakistani products in Japan.
The awareness was created through an aggressive campaign of reaching out to the Japanese companies and supply chains; an improved compliance of standard requirements on the supply side; and, an experience-based increasing interest, acceptance and confidence of the Japanese buyers in Pakistani products, it added.
Pakistan’s Trade Mission in Japan has been able to stand out during the recent years with the presence at all major trade shows in the absence of participation by exporters due to travel restrictions; presenting options of business with Pakistan to regional business chambers and trade associations; engaging public through social media and promotion activities to create an ownership; and, encouraging Pakistani business community in Japan to engage in Pakistan focused trade.
Rice, sesame seed, fish fillet, mangoes, dates and cotton yarn are the leading products driving this growth.
Other significant exportable items, showing an increasing trend, included sports goods, surgical instruments, animal casing, chromium ore, carpets, gloves, socks and tanned leather.
According to the trade data updated by the Ministry of Commerce, the overall global exports of Pakistan has been showing a consistent growing trend during the first quarter and exports to Japan are following the same trend.
To sustain this positive trade trajectory with Japan, the Pakistan Mission has been executing product and sector-specific promotional campaigns in collaboration with the Trade Development Authority of Pakistan (TDAP) through a series of webinars, tasting events and virtual B2B meetings for the Pakistani exporters.
The recent activities, hosted at the Embassy of Pakistan in Tokyo, focused on dates, salt, mangoes, surgical instruments, handicrafts and furniture.
During the second quarter, in addition to promoting a diverse range of exportable products, efforts will also be made to increase the export of services from Pakistan to Japan, mainly covering information technology and consulting services; and, export of manpower, both unskilled and skilled workforce, for which the demand is increasing in Japan.
Less product, same price: 'Shrinkflation' hits US shoppers
NEW YORK: More air in that bag of chips? Fewer flakes in...
‘Running out of time’: Asia struggles to kick coal addiction
CILEGON, Indonesia: Smokestacks belch noxious fumes into the air from a massive coal-fired...
Saudi Arabian, Jordanian investors launch Fly Aqaba
RIYADH: Jordan’s Aqaba Special Economic Zone Authority signed an investment agreement to...
FM Qureshi terms economic hardships temporary
MULTAN: The economic hardships were temporary, as the government was trying its...
Major Saudi retailers expect better days as pandemic rules removed
DUBAI: Saudi retail giants BinDawood and Arabian Centers are expecting better days...