Japan plans to enhance auto industry in Pakistan
January 13th, 2018 | No Comments
Japanese government planned to help Pakistan to enhance exports and make up the country’s automobile industry, a foreign envoy said on Thursday.
Takashi Kurai Ambassador of Japan said that Japanese government will help in export promotion, improvement of security by providing security equipment at the airports and diversification of automobile industry.
In the first half after declining for the couple of years exports sector showed recovery as the government revealed trade enhancement package, and is disbursing tax refunds.
Although Suzuki, Honda, and Toyota, Japan-based car assemblers, dominate the auto sector after the introduction of new policy, the market dynamics have changed completely inviting many new investors to Pakistan. To meet growing demand for cars, foreign and local markets both are setting new plants, sales increased by 20 percent to 100,000 units in 2017/18 fiscal year.
“Pakistan highly values Japan’s economic cooperation that will be further strengthened with passage of time” stated by Rana Afzal Khan Minister of State for Finance. Kahn asked for preferential trade agreements that will promote Pakistani textile in Japan.
Minister was requested to attend Expo 2025 to be held in Kazakhstan by a foreign representative. He said, “Joint government business dialogue process between the two countries should be revived for the benefit of both the countries,” he said. The minister assured of all possible support from his side to the ambassador. Other attendees of the meeting include senior officials of the finance and economic affairs divisions.
Published in: Volume 09 Issue 02
Short Link: https://www.technologytimes.pk/?p=20218