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Khusro Bakhtiar invite Japanese Companies to gain foothold in Pakistani market

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ISLAMABAD, Pakistan: The Japanese Ambassador to Pakistan Kuinori Matsuda met the Federal Minister for Industries and Production Khusro Bakhtiar in Islamabad on Monday.

During the meeting, both shared the key areas of cooperation in the industrial sector and the modernization of the local engineering industry.

The minister discussed the business opportunities for Japanese Automobiles companies under framework of new auto policy focusing on localization and making the auto sector export-oriented. He invited the Japanese auto companies to explore the potential of exporting auto parts to other Countries.

Khusro Bakhtiar said that these incremental steps would revolutionize the automobile industry of the country by connecting it to global supply chain & distribution channels.

During the interaction, the minister highlighted the setting up of Karachi Industrial Park on 1,500 acres of PSM land and said that this project will provide an opportunity to foreign investors including Japanese companies to gain a foothold in the Pakistani market as well as abroad by capitalizing on cheap labor and port location.

Furthermore, the minister apprised the Japanese ambassador on Mobile Device Manufacturing Policy.

Khusro Bakhtiar said that the new policy has started bearing fruit now and Pakistan’s existing economic environment provides an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.

The Japanese Ambassador Kuinori Matsuda shed light on mutual cooperation between JICA and the Ministry of Industries and Production to enhance export base and suggested a bilateral forum for issuance of certificates for international standards of export goods like auto parts, tyres, chemicals, IT & communications, and enhancement of engineering development skills.

The meeting ended on a high note that mutual cooperation between Pakistan and Japan would be extended in light of new auto, SME, and existing mobile manufacturing policies and improved ease-of-doing-business steps taken by the government of Pakistan for the industrial sector.

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