More Japanese firms keen to invest in Pakistan: Ambassador Takashi

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KARACHI, Mar 12 (APP): The economic relations between Japan and
Pakistan have grown over the last couple of years and will further
strengthen in future, as more Japanese companies are interested to
invest in different sectors, said Ambassador of Japan to Pakistan,
Takashi Kurai, on Sunday.
Speaking on the 9th Annual General Meeting of Pakistan Japan
Business Forum (PJBF), he, however, said there is need for more
steps to increase bilateral trade and investment to tap existing
big potential on both sides, according to a statement issued here.
T he Consul General of Japan in Karachi Toshikazu Isomura,
Country Director of Japan External Trade Organisation (JETRO)
Osamu Hisaki, Marubeni Corporation’s General Manager for Pakistan
K. Ushimaru, PJBF’s President Sohail P. Ahmed and its Vice
President Kalim Farooqui were also present.
The Japanese Ambassador said that for more involvement of
Japanese companies, better security situation, infrastructure
development and legal and administrative measures were required.
He acknowledged that there is visible improvement on these
accounts.
“I came to Pakistan in last April, since then law and order
has significantly improved. Still more needs to be done,” he was
quoted as saying.
He informed that 80 Japanese companies were operating in
Pakistan-eighteen in Karachi. In Pakistan, Japanese companies
were mainly engaged in auto sector.
In fiscal year 2015-16, Japanese companies invested 74 million
dollars in Pakistan.
He said Japan was providing support to Pakistan in power sector
as well.
The envoy informed that a Japanese firm was setting up a powder
milk plant in Sheikhpura with initial investment of eight million
dollars and would start its production in April 2018.
Panasonic had opened its show-room in Karachi in last October.
Ajinomoto had entered a joint venture with Lakson Group in last
July.
He said that the Japanese automobile companies Suzuki, Honda
and Toyota had introduced new car models to Pakistani market.
In fiscal year 2015, the bilateral trade was around two billion
dollars and, he was optimistic that it would continue to grow.
The Japanese Ambassador said that on the eve of 65th anniversary
of friendly relations between the two countries, Japanese Embassy
and its consulates planned many commemorative events on a larger
scale throughout Pakistan.
He said these cultural events would highlight the long and
strong friendship of Japan and Pakistan, and the leadership of
both the countries would realise to have more political contacts;
which definitely would boost trade and investment.
On his behalf and of the embassy’s staff, the Japanese Ambassador
promised full cooperation and support for the promotion of bilateral
trade and investment.
The Ambassador praised the role of PJBF in promoting two-way
trade and investment.
He recalled that PJBF delegation led by its President Sohail
P. Ahmed visited Japan last year and had meetings with Japanese
companies which motivated them to take interest in Pakistani
products. That, an agreement was signed between small and medium
enterprises (SMEs) of the two countries.