In a significant diplomatic engagement, Pakistan and Japan have reaffirmed their commitment to bolstering trade relations and collaboration. Ambassador WADA Mitsuhiro and Federal Minister for Commerce, Jam Kamal Khan, convened to explore avenues for strengthening mutual trust and fostering economic cooperation between the two nations.
During the meeting, Ambassador Mitsuhiro extended an invitation to Pakistani businessmen to participate in the World Expo 2025, slated to take place in Osaka, Japan. This participation is envisioned as a platform to promote economic cooperation and forge closer ties between the business communities of both countries. However, challenges encountered by Japanese businesses in importing goods were also brought to the forefront, underscoring the need for addressing trade barriers.
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In response, Minister Khan assured the provision of government support to facilitate ease of doing business for both local and international entrepreneurs. He underscored the Ministry of Commerce’s commitment to streamlining business processes and creating a conducive environment for investment, both domestic and foreign.
Highlighting the potential for collaboration, Minister Khan identified key sectors such as automobile, steel, machinery, textiles, minerals, and IT HR as areas of interest for cooperation with Japan. This aligns with Pakistan’s pursuit of sustainable economic development and diversification of its industrial base.
Both dignitaries reiterated their commitment to fostering a balanced trade environment and strengthening the longstanding bilateral relations between Pakistan and Japan. They expressed a mutual desire to work towards enhancing the trade volume, which stood at $1.26 billion in the fiscal year 2022-23, according to sources from the Federal Board of Revenue.
The meeting underscores the importance of diplomatic engagement in advancing economic cooperation and forging stronger ties between Pakistan and Japan, paving the way for mutually beneficial partnerships and trade expansion in the future.
