ISLAMABAD: Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Monday invited the Japanese automobile companies to explore the potential of exporting automobile parts to other countries.
He said this while meeting with the Ambassador of Japan to Pakistan, Kuinori MATSUDA to discuss the bilateral cooperation in different potential areas including the automobile sector.
During the meeting, both shared the key areas of cooperation in the industrial sector and the modernization of the local engineering industry.
The Minister discussed the business opportunities for Japanese Automobiles companies under the framework of a new auto policy focusing on localization and making the auto sector export-oriented.
He said these incremental steps would revolutionize the automobile industry of the country by connecting it to the global supply chain and distribution channels.
During the interaction, the Minister highlighted the setting up of Karachi Industrial Park on 1500 acres of PSM land, adding, the project would provide an opportunity to foreign investors including Japanese companies to gain a foothold in the Pakistani market as well as abroad by capitalizing on cheap labor and port location.
Furthermore, the Minister apprised the Ambassador on Mobile Device Manufacturing Policy.
He said the new policy has started bearing fruits now and Pakistan’s existing economic environment provided an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.
The ambassador sheds light on mutual cooperation between JICA and the 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.
