Reportedly, two to three Japanese companies have shown interest to start their business units in Pakistan. This was revealed by Consul General of Japan, Toshikazu Isomura.
He was speaking at a meeting of Karachi Chamber of Commerce & Industry(KCCI), in which he said that Pakistan and Afghanistan represent a huge market with a population of around 250 million which could offer a lot of trade and investment opportunities to the Japanese business community looking forward to expand businesses in this important region.
He stated that it was his desire to strengthen and improve trade and investment relations with Pakistan and they are trying their best in this regard.
“Currently, a total of 80 Japanese companies are successfully operating from Pakistan but this number is nothing if we compare it with 4,500 Japanese companies operating in Thailand and around 17,000 in China,” he said.
He mentioned that although a lot of Japanese companies have their production units in India, which was also a huge market, but these companies simply cannot send their goods and services to Pakistan because of the poor relations and tensions between Pakistan and India, ‘which is an issue’.
Highlighting the operations of some major Japanese companies in Pakistan, he particularly mentioned that Suzuki, Honda, Toyota, Isuzu and Hino are successfully running their businesses in the automobile sector while Nissan will also start its operations in Pakistan soon.
President KCCI, Agha Shahab Ahmed Khan said that the Karachi Chamber, which has a host of businessmen and industrialists from different sectors of the economy, was the right platform which must be utilized for improving trade ties and business linkages between the two countries.
He said that Japan has got a very unique style as the Japanese management style emphasizes the need for information to flow from the bottom of the company to the top, unlike many developed countries in the west, which needs to be introduced in Pakistan as well.
He informed that during 2018, goods exported by Pakistan to Japan experienced a 17.9 percent decline from $431.96 million in 2017 to $354.26 million. Similarly, goods imported by Pakistan from Japan stood at $2.1 billion down from $2.3 billion in 2017, recording a 9.6 percent decline.
He was of the view that as Japan fulfills its large share of grains, textiles and surgical goods demand through imports, Pakistan can tap these segments by exporting its products to Japan which would further boost the bilateral trade volume between the two countries. “Pakistan should go for joint ventures with Japan to provide training assistance for its automobiles sector.”
He stressed that bilateral relations between Pakistan and Japan have to be strengthened to such an extent that Pakistan’s economy also starts depicting the Japanese knowledge-based economy, which will certainly ensure economic progress and prosperity.