ISLAMABAD: Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Monday invited Japanese automobile companies to Pakistan for exploring potential of exporting automobile parts to other countries.
He said this while meeting with Ambassador of Japan to Pakistan, Kuinori Matsuda to discuss the bilateral cooperation in different potential areas including automobile sector, said in a news release issued here.
During the meeting, both shared the key areas of cooperation in industrial sector and modernisation of local engineering industry.
The minister discussed the business opportunities for Japanese automobiles companies under the new auto policy focusing on localisation and making the auto sector export-oriented.
He said these incremental steps would revolutionised the automobile industry of the country by connecting it to global supply chain and distribution channels.
During interaction, the minister highlighted the setting up of Karachi Industrial Park on 1,500 acres of PSM land, adding that the project would provide an opportunity to foreign investors including Japanese companies to gain foothold in the Pakistani market as well as abroad by capitalising on cheap labor and port location.
Furthermore, the minister apprised the ambassador on mobile device manufacturing policy. He said the new policy has started bearing fruits and Pakistan’s existing economic environment provides an excellent opportunity for Japanese companies to investment in mobile phone manufacturing.
The ambassador shed light on mutual cooperation between JICA and Ministry of Industries and Production to enhance export base and suggested bilateral forum for issuance of certificates for international standards of export goods like auto parts, tyres, chemicals, IT and 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 government of Pakistan for industrial sector.
