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Monday October 07, 2024

Unlocking Japanese market potential for Pakistani exports

By Our Correspondent
September 12, 2024
An image from the ‘Export to Japan’ seminar organised by the Pakistan Japan Business Forum (PJBF on September 11, 2024.— Facebook@PakistaninJapan
An image from the ‘Export to Japan’ seminar organised by the Pakistan Japan Business Forum (PJBF on September 11, 2024.— Facebook@PakistaninJapan

KARACHI: On Wednesday, during the ‘Export to Japan’ seminar organized by the Pakistan Japan Business Forum (PJBF), speakers highlighted that Pakistan’s exports to Japan face tariff disadvantages compared to other exporting countries, which benefit from lower duties on their products entering Japan.

The speakers recommended that Pakistani exporters could penetrate the Japanese market by employing innovative marketing methods, utilizing e-commerce platforms, frequently visiting buyers, and focusing on quality presentation and packaging.

Japan is a significant market with stringent health and environmental standards, as Japanese consumers are highly conscious of product quality. For instance, Japan’s large aging population demands processed foods of the highest quality.

Mitsuhira Wada, Japanese ambassador to Pakistan, said that the two countries have a long history of economic and diplomatic relations. He mentioned that 80 Japanese companies operate in Pakistan, contributing to national economic growth and creating employment opportunities. He emphasized that Pakistani exporters should manufacture products with Japanese consumers’ preferences in mind to enhance their competitiveness.

He also invited Pakistani exporters to participate in Expo 2025 Osaka to explore the Japanese market.Raza Bashir Tarar, Pakistan’s ambassador to Japan, in his virtual address, noted that Japanese consumers place significant importance on the health and environmental aspects of products. He mentioned that the Japan External Trade Organization (Jetro) can assist Pakistani exporters in meeting these standards and urged them to make concerted efforts to unlock the potential of the Japanese market.

Zubair Motiwala, chief executive of the Trade Development Authority of Pakistan (TDAP), pointed out that Pakistan’s exports to Japan amount to approximately $323 million annually, representing only 1.0 per cent of the potential market. He expressed confidence that Jetro could help increase export volumes.

He also suggested that Japan should support Pakistan in realizing the potential of its blue economy, given the high demand for seafood in Japan. Motiwala stressed that Pakistani exports face tariff disadvantages in Japan and called for negotiations to reduce these duties. He suggested that a preferential agreement with Japan could help Pakistani exporters mitigate the impact of high production costs.

He added that TDAP has been working to boost the country’s exports, which could have reached a $36 billion market if not for the energy crisis; current export volumes are around $30 billion.

Murtaza Y Mandviwala, chairman of the PJBF, said that Pakistani export products need to be more competitive to gain a foothold in the Japanese market.A presentation during the seminar revealed that Japan offers significant export potential in sectors such as seafood, food and agriculture, medical and information technology (IT).