JICA delegation discusses trade, investment matters with PJBF

KARACHI: Teruyuki Ito, Director General, South Asia Department, Japan International Cooperation Agency (JICA) currently on a visit to Pakistan and his team consisting of Eriko Sato and Tsuyoshi Hara called on Pakistan Japan Business Forum (PJBF) to discuss matters of mutual interest.

Chairman PJBF Kalim Farooqui briefed them on the aims and objectives of the forum and appraised the visiting guests with the contribution made over the years in further strengthening relations between Pakistan and Japan.

Present on the occasion were Tetsuya Suematsu, Senior Vice Chairman, PJBF and General Manager of Marubeni Corporation and Syed Feroz Alam Shah, Director PJBF and Advisor Board of Investment, Government of Pakistan.

They elaborated upon the progress being made towards improved trade and investments between the two friendly countries and specifically mentioned about the recent joint dialogue between the two countries held in Islamabad in which over 70 Japanese businessmen converged as also an equal number of Pakistani businessmen having business interest with Japan. The dialogue consisted of both G2G and B2B.

Contribution of JICA towards development projects in Pakistan were highlighted by both Kalim Farooqui and Feroz Shah, both of whom have been associated with Japan for over 40 years and are recipients of civil awards by the government of Japan.

The visiting delegation was made aware of the fact that earlier Pakistan’s share of Japanese Overseas Development Assistance (ODA) was the highest in the region which included both the social sectors with grant assistance as also for infrastructure development projects under Japanese yen loan assistance as state credit. Important examples of both were mentioned.

However, with the regional geopolitical situation, assistance from other countries started eyeing Pakistan as a potential destiny for trade and investments of which China taking the lead came up with what is termed as China Pakistan Economic Corridor (CPEC) as a gateway to Central Asia and beyond.

Explaining from a Japanese business perspective, Tesuya Suematsu elaborated upon the benefits of Japanese ODA which has helped Pakistan. He further explained about the role played by PJBF’s counterpart in Japan, Japan Pakistan Business Cooperation Committee (JPBCC) which has been actively involved with both the government and the private sectors of Pakistan and Japan since 2001.

PJBF and JPBCC have jointly acted as an important link between Pakistan and Japan and regularly hold consultation for advancement of economic relations between the two friendly countries. JICA being an integral part has and can continue to play an important role.

Teruyuki Ito taking notes of the discussion and the meaningful interaction explained about his own role at JICA headquarters over the years and being involved with countries in the region assured of an assessment of Pakistan’s need as during his current visit, he is meeting several relevant organizations and individuals to decide on the way forward. Pakistan in his view is an important country with close cordial relations and JICA would like to help maintain that position.

PJBF expressed its gratitude to the delegation visiting in the year when the two countries are celebrating 70 years of the establishment of diplomatic relations (1952-2022) and wished for the friendship to continue in the years ahead.

Copyright Business Recorder, 2022