Pakistan, Japan have huge potential for expanding trade, economic ties: Envoy

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ISLAMABAD: Japan and Pakistan possess huge potential for expanding bilateral trade and economic ties, Ambassador of Japan to Pakistan, Kuninori Matsuda said.

The Ambassador said that both sides have more potential to increase bilateral trade from the current volume of trade and double the figure to exploit resources.

He said Japan and Pakistan have enjoyed historical diplomatic and economic relation, where Japan has always supported Pakistan in every situation.

Replying to a question, the ambassador said Pakistan and Japan are looking for increasing bilateral cooperation in agricultural-based industry and value addition as Japan has already announced grant aid to enhance productivity in relevant agricultural fields.

He said that Japan was also looking for enhancing the cooperation in auto parts industry for enhancing the capacity of local labor and providing employment opportunities in Pakistan.

He said Japanese companies were interested to establish the industrial units of auto parts in Pakistan for bringing investment to provide opportunity to the local people.

Replying to another question, he said that Japanese firms directly invested in the production in Pakistan and Suzuki of Japan is engaged in producing cars in Pakistan.

Recently Japan announced a grand aid of US $5.2 million to support Agri-Food and Agro-Industry development in the country’s Khyber Pakhtunkhwa and Balochistan provinces, he said.

The senior diplomat said this amount would be utilized for enhancement of productivity and capacities of relevant sectors in the cattle meat value chain in districts of Khyber Pakhtunkhwa.

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