6th Pakistan Japan Joint Government Business Dialogue
Mr Abdul Razak Dawood, Advisor to the Prime Minister on Commerce, Textile, Industries & Production and Investment visited Tokyo to lead Pakistan in 6th Pakistan Japan Joint Government Business Dialogue to discuss the possibilities and ways to enhance trade and investment between the two countries and create enabling environment to further deepen bilateral trade and investment. A 14 member business delegation also accompanied the Advisor. Advisor presented Pakistan’s case for preferential market access in the Japanese market. Besides, the Advisor also made key note speech in a seminar jointly organized by Ministry of Commerce, Embassy of Pakistan, Ministry of Economy, Trade and Industry of Japan, JETRO and Japan Chamber of Commerce and Industry. The seminar was attended by more than 150 top business people of Japan. Mr. Akimasa Ishikawa, Parliamentary Vice Minister of METI made the opening remarks. Mr. Yasushi Akihosi President of JETRO and Mr. Teruo Asada, Chairman, Japan-Pakistan Business Cooperation Committee and Chairman, Marubeni Corporation also delivered speeches on trade and investment cooperation between the two countries. Mr. Abdul Razak Dawood, 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, underscored the importance of furthering trade and investment relations between Japan and Pakistan. Advisor 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 operating in Pakistan reflect that MNCs are making huge 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. 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. The Advisor also invited Japanese companies to look into the IT Sector, small and medium enterprises and agriculture value chains for investment.
A number of leading Japanese Trading Houses also called upon the Advisor and individually discussed opportunities for them in Pakistan. Advisor briefed them that now Pakistan is moving up the value chain from low value added to high value added products and highlighted opportunities for these products in Pakistan’s nearby markets. He invited the Japanese companies to invest in collaboration with Pakistani companies for production of engineering goods in Pakistan for export to the Africa, Middle East and Central Asia. He also called upon the Japanese auto parts companies to include Pakistani auto parts in their international value chain. The Advisor also highlighted opportunities for the Japanese companies to take advantage of the FTA between Pakistan and China for production in Pakistan for the export to China. He further called for deeper cooperation between the SMEs of both countries. He also apprised about the booming IT sector of Pakistan and invited Japanese companies to engage Pakistani IT graduates in their IT divisions and explore possibilities of outsourcing their software requirements to Pakistan’s software companies.