ISLAMABAD: President Islamabad Chamber of Commerce and Industry (ICCI) Ahsan Zafar Bakhtawari has said that Japan, the world’s third largest economy with a GDP of $4,940.9 billion, is of great importance for Pakistan, economically, commercially and diplomatically.
He expressed these views yesterday while talking to Pakistan’s economic minister designated for Japan, Dr Irfan Abbas Shah, who met him during his visit to the chamber.
President Islamabad Chamber said that Japan is in dire need of skilled workers from all over the world. Pakistan and Japan have an agreement in this regard which needs to be implemented immediately. The government should take SMEDA and other related institutions into confidence and form a comprehensive policy in this regard; courses should be conducted for Pakistani youth to learn Japanese language.
He said that in Pakistan, vehicle parts are ordered from outside and assembled here. With the cooperation of Japan, manufacturing should be promoted in Pakistan, which will increase the supply of employment on the one hand and on the other hand, the industry at the local level will also benefit.
He said that Japan should set up a baby milk plant in Pakistan. There are vast possibilities of investment in this sector. A technology transfer project from Japan to Pakistan should be worked on. He said that Japanese investors need to be convinced to build storage in Gwadar. It will not only bring investment to Pakistan but also create employment opportunities.
Speaking on this occasion, Economic Minister Dr Irfan Shah said that Japan is in dire need of skilled workers due to lack of youth, and Pakistanis can take advantage of this.
The volume of Pakistani exports to Japan is four hundred to five hundred million dollars, which can be increased many times. In the past, Japan has set up three plants in the automobile sector in Pakistan, but these plants could not go into manufacturing after assembling, due to several reasons. They will convince Japanese investors to invest in Special Economic Zones in Pakistan.
There is scope for increasing the volume of bilateral trade in all sectors in both countries. He assured the Islamabad Chamber that he will be in constant contact with the business community and will play every possible role in bringing the business community of both countries closer.
Speaking on this occasion, Vice President Chamber Engineer Azhar ul Islam said that the Pakistani Embassy should conduct a market survey in Japan, in which apriority list of some items should be made that can be exported from Pakistan to Japan. There should be awareness of the quality so that the local industry pays attention to it.
Copyright Business Recorder, 2023
Comments
Comments are closed for this article.