The Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar, met with the Ambassador of Japan, H.E Kuinori Matsuda, today (September 6).

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

The minister discussed business opportunities for Japanese automobile companies under the framework of the new auto policy that focuses on localization and on making the auto sector export-oriented.

He invited the Japanese auto companies to explore the potential of exporting auto parts to other countries. He said that these incremental steps would revolutionize Pakistan’s automobile industry by connecting it to the global supply chain and distribution channels.

Bakhtyar highlighted the construction of the Karachi Industrial Park on 1500 acres of land. He said that this project would provide opportunities to foreign investors, including Japanese companies, to gain a foothold in the Pakistani market and abroad by capitalizing on cheap labor and port location.

The minister also told the ambassador about the Mobile Device Manufacturing Policy, adding that the new policy has already started to bear fruit. He said that Pakistan’s existing economic environment provides an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.

The ambassador discussed the mutual cooperation between the Japan International Cooperation Agency (JICA) and the Ministry of Industries and Production (MoI&P) to enhance the export base. He suggested a bilateral forum for the issuance of certificates to attain international standards of export goods like auto parts, tires, chemicals, IT & communications, and enhancement of engineering development skills.

The meeting concluded that the mutual cooperation between Pakistan and Japan would improve under new auto and small and medium enterprises (SMEs) policies, as well as under existing mobile manufacturing policies and improved ease-of-doing-business developments in the industrial sector.

Source: Pro Pakistani