KARACHI: President Asif Ali Zardari and Japanese Prime Minister Nato Kan signed an accord on Tuesday in a promise to take the ties of both countries to new heights and also decide upon a comprehensive partnership for peace and development in the fields of economic and defence co-operation.

President Zardari’s spokesman Farhatullah Babar disclosed the point of agreement in field of economic development. It has ranged to establish private sector co-operation through joint ventures in the sectors of energy, food and agriculture as well as development of economic zones in Pakistan for investment by Japanese enterprises in particular.

Defence co-operation will cover the domain of personnel training and promotion of educational institutions.

President Zardari and Japanese Prime Minister Kan also signed an agreement of soft-loans of around $173 million for infrastructure development programme in the Khyber Pakhtunkhwa to flood affected areas.

Moreover, Japan agreed its pledge to continue support the power and water sector management programme in Pakistan.

The PPP government also made a vital agreement to gain maximum financial benefits during the Benazir Bhutto era but international crisis and nuclear deterrent issues restricted Japan to deal independently to boost the economy of Pakistan.

                                                       Monitoring Desk, 2011