ISLAMABAD: Japanese companies are keen on investing in various sectors of Pakistan, including energy and consumers goods, said Ambassador of Japan to Pakistan Hiroshi Inomata.
During a meeting with the business community at the Islamabad Chamber of Commerce and Industry (ICCI), the ambassador urged Pakistan to further improve its business environment by addressing issues like power shortages, infrastructure and security situation to attract further Japanese investment.
“Considering the size of both economies, Pakistan and Japan have good potential to further expand bilateral trade. Japan is trying to broaden its economic ties with Pakistan and finds promotion of trade as the best option to further deepen mutual understanding between the two countries,” said Inomata.
“Japan desires to extend cooperation in health and education sector,” he said, adding that many Japanese companies were already involved in joint ventures with Pakistan.
“Bilateral trade between the two countries currently values around $2 billion,” said ICCI President Muzzamil Hussain Sabri. “Both countries should focus on finalising a Free Trade Agreement (FTA) and encouraging frequent exchange of trade delegations to help increase the volume of bilateral trade.”
Sabri further informed that Pakistan had allowed Japan to set up a ‘Special Economic Zone’ and ‘Textile City’ in Karachi under a concessionary package and urged Japanese to enhance investment in the said projects.
Appreciating Japan’s interest in the Karachi Circular Railway and underground metro projects in Lahore and Karachi, the ICCI president stressed on extending all possible assistance to Japanese investors in upgrading the transportation system according to modern needs.
