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Thursday March 28, 2024

Pakistan seeks Japan’s help to enhance textile exports

By Irfan Siddiqui
December 15, 2018

TOKYO: Adviser to Prime Minister on Textile and Commerce Abdul Razzad Dawood has said Pakistan is seeking Japan’s cooperation to enhance its textile exports as the country plans to tap newer geographies to beat an economic slowdown in traditional hunting grounds.

“If Japan reduces its tariff on Pakistani textile products, we can easily increase our exports to the country,” Dawood told The News. The advisor is currently in Japan to get duty free access of Pakistani products.

He said Pakistan was not able to increase its exports to Japan for the last several years, but “now the government has been seriously working to not only enhance exports to Japan, but also to bring Japanese investment to Pakistan”

The advisor also underscored the importance of furthering trade and investment ties between Japan and Pakistan.

“Pakistan had a long standing trade and investment relationship with Japan and there is a need to build upon the reserve of historical linkages, goodwill, understanding and respect for brand Japan in Pakistan,” he added.

A recent report by Japan External Trade Organization, termed Pakistan as ‘the most profitable market in the region in terms of investment.

The current presence of 86 Japanese companies in Pakistan with some enhancing their investments while new ones entering the Pakistani market coupled with Japan External Trade Organization’s recent annual survey ranking Pakistan as the first in terms of business growth expectation, profitability and local employment was also highlighted.

Japanese investors have great chances in Pakistan, and government provides full investment security and one window operation to the Japanese investors, the adviser said.

He also elaborated the economic agenda of the present government and said new rulers are determined to overcome the current economic challenges through peace oriented, investment friendly, development focused and people centered strategies.

Dawood said recent fluctuation in rupee value against dollar was the result of the last government’s financial mismanagement, but ‘the present government would handle it in a better manner”.

“The government is making efforts to come out of the financial crisis, and for that it sought help from friendly countries, such as Saudi Arabia and China,” he added.