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Pakistan, Japan pledge to strengthen trade ties

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ISLAMABAD:

Pakistan and Japan pledged to enhance trade relations and collaboration during a meeting between Ambassador WADA Mitsuhiro and Federal Minister for Commerce, Jam Kamal Khan. They discussed ways to strengthen trade relations and mutual trust between Japan and Pakistan, as per a press release issued here. Mitsuhiro congratulated Khan on his recent portfolio, expressing a commitment to enhancing bilateral ties.

The ambassador extended an invitation to Pakistani businessmen to participate in World Expo 2025, scheduled to be held in Osaka, Japan, in 2025, to promote economic cooperation. However, challenges faced by the Japanese business community in imports were highlighted by the Japanese ambassador. Khan responded by assuring government support to facilitate ease of doing business for local and international entrepreneurs.

Read Pakistan, Japan agree to deepen bilateral ties

Emphasising sustainable economic development, the commerce minister highlighted key sectors such as automobile, steel, machinery, textiles, minerals, and IT HR for potential collaboration with Japan. Moreover, Khan disclosed the Ministry of Commerce’s comprehensive five-year plan aimed at streamlining business processes and attracting both local and foreign investors. Both dignitaries reaffirmed their commitment to fostering a balanced trade environment and strengthening the longstanding bilateral relations between Pakistan and Japan. They also agreed to work towards enhancing the trade volume, which stood at $1.26 billion in 2022-23, according to sources from Federal Board of Revenue.

Published in The Express Tribune, April 2nd, 2024.

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