Japan keen to deepen trade, investment ties with Pakistan

TOKYO: Japan is keen to strengthen its trade and investment ties with Pakistan to help the country’s economy become fundamentally stronger, a top official said on Monday. 

“Japan will cooperate with Pakistan in trade and investment projects,” Tadashi Maeda, chief executive officer at Japan Bank of International Cooperation (JBIC) said in a meeting with Pakistan’s Ambassador to Japan Asad Majid. Maeda also discussed the avenues for deepening trade and investment cooperation between the two countries during the meeting.

Pakistani Ambassador acknowledged the support and cooperation of Japan government for multiple economic projects.  Majid briefed the JBIC’s governor about the current achievements in investment and finance sectors in Pakistan.

“This is the 65th year of diplomatic relations between Pakistan and Japan and many delegations from Pakistan are  coming to Japan and from Japan to Pakistan,” he said.  A JBIC’s delegation is scheduled to visit Pakistan during the current month to work out details for financial sector collaboration between the two countries.

In August, Japanese Ambassador Takashi Kurai called on Finance Minister Ishaq Dar to discuss matters related to economic and trade relations between the two countries. Kurai said a number of Japanese companies are currently exploring opportunities in various sectors in Pakistan.

Japan Bank of International Cooperation is a policy-based financial institution of Japan, and conducts lending, investment and guarantee operations while complementing the private sector financial institutions. It was created in October 1999 through a merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund. 

JBIC is also an export credit agency. Its key operational principles include managing well-focused policy-based financing, underpinning private-sector financial institutions, generating sufficient revenues to cover expenditures, maintaining and improving international trust and confidence, and conducting business operations by drawing on its expertise and initiatives.