Daily Times

Finance Minister Shaukat Tarin has invited the Japanese firms to start exporting automobiles from Pakistan.

The minister extended this invitation during a meeting with Ambassador of Japan Kuninori Matsuda who called on him on Wednesday. SAPM on Finance and Revenue Dr Waqar Masood was also present during the meeting.

The minister touched upon the new Auto policy which has offered incentives to the new investors and will have a far reaching impact on the development of the auto industry in Pakistan. He stated that with the introduction of the new Auto Policy, Japan has the opportunity to further its investments in the sector which in turn will be beneficial for both the countries.

He said that he wants Pakistan to be able to generate exportable surplus in spare parts, so new investment will prove to be lucrative for both countries.

The ambassador praised the new Auto policy and stated that the Japanese businesses are encouraged by the incentives provided under the policy. He congratulated the finance minister on assuming his responsibilities on behalf of Japanese Finance Minister Taro Aso.

The minister and the ambassador discussed issues of mutual interest. The minister gave a brief overview of the economy to the Ambassador.

The ambassador said that Japan greatly values its bilateral relations with Pakistan. He briefed the finance minister about operations of the Japanese entities in Pakistan and expressed confidence that business and economic linkages would further strengthen between the two countries.

Both reviewed the entire spectrum of business and investment relations and identified areas for further strengthening and expanding economic cooperation.

The ambassador informed the minister that Japan is now embarking on a project of human resource exchange with Pakistan under which the Japanese labour market will be opened for highly skilled Pakistanis. He said this will provide job opportunities in Japan to Pakistanis, especially in the areas of information technology and science & technology.

The finance minister highly appreciated and welcomed the Japanese initiative and suggested strong and close Japanese collaboration with the Ministry of Overseas Pakistanis as well as Overseas Employment Corporation.

The ambassador further apprised the minister that Japan is focusing on developing a strong export base in Pakistan. For the purpose, Japan is looking beyond the traditional sectors of textiles and automobiles. Japan saw opportunities of investing in food processing, fishing and agriculture.

The finance minister welcomed the Japanese initiatives and assured of the government’s fullest support for the purpose. He opined that goods manufactured in special economic zones (SEZs) should be exported.

The finance minister also thanked the Japanese government for debt relief under the second phase of G-20’s Debt Service Suspension Initiative (DSSI). He assured the ambassador of his full support in improving the trade and economic relations between the countries.

The finance minister said that Pakistan and Japan enjoy sound friendly relations since 1952 which have been getting stronger with each passing day. He lauded the cooperation extended by the government of Japan to Pakistan in the fields of education and infrastructure development.

He said that Japan is one of the major development partners of Pakistan and he firmly believes that the cooperation will further strengthen in multiple fields for the mutual benefit of both the countries.