Bakhtyar asks Japanese firms to explore Pakistan

ISLAMABAD: Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Monday invited Japanese auto and mobile companies to explore business opportunities under the new policies focusing on localisation and making the sectors export-oriented.

He gave the invitation during a meeting with Ambassador of Japan to Pakistan, Kuinori Matsuda at his office. Both discussed the key areas of cooperation in the industrial sector and modernisation of the local engineering industry.

Speaking about opportunities under the new auto policy, Bakhtyar said Japanese automobile companies could explore the potential of exporting auto parts to other countries. “These incremental steps would revolutionise the automobile industry of the country by connecting it to global supply chain and distribution channels.”

Highlighting the setting up of Karachi Industrial Park on 1,500 acres of PSM land, he said that this project would provide opportunity to foreign investors including Japanese companies to gain a foothold in the Pakistani market as well as abroad by capitalising on cheap labour and port location.

Furthermore, the minister apprised the ambassador on the Mobile Device Manufacturing Policy. He said that new policy has started bearing fruit now, and Pakistan’s existing economic environment provided an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.

The ambassador shed light on mutual cooperation between JICA and Ministry of Industries and Production to enhance the export base and suggested a bilateral forum for issuance of certificates for international standards of export goods like auto parts, tyres, chemicals, IT and communications and enhancement of engineering development skills.

The meeting ended on a high note that mutual cooperation between Pakistan and Japan would be extended in light of new auto, SME and existing mobile manufacturing policies and improved ease-of - doing-business steps taken by the government of Pakistan for the industrial sector.