Pak-Japan Pledge to boost trade relations

Islamabad: Pakistan and Japan on Monday pledged to boost trade relations and collaboration in a meeting between Ambassador WADA Mitsuhiro and Federal Minister for Commerce, Jam Kamal Khan to discuss ways to strengthen trade relations and mutual trust between Japan and Pakistan, said a statement issued here.

During the meeting, Ambassador WADA Mitsuhiro congratulated Minister Jam Kamal 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 which is scheduled to be held in Osaka Japan in 2025 to promote economic cooperation. Despite the optimism, challenges faced by the Japanese business community in imports were brought to light by Ambassador WADA Mitsuhiro. Minister Jam Kamal Khan responded by assuring government support to facilitate ease of doing business for local and international entrepreneurs.

Emphasizing sustainable economic development, Minister Jam Kamal Khan highlighted key sectors such as automobile, steel, machinery, textiles, minerals, and IT HR for potential collaboration with Japan.

Moreover, Minister Jam Kamal 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 USD in 2022-23, according to sources from FBR and TDAS.