Pakistan seeks increased access to Japanese markets

In a high-level meeting held here on Wednesday Pakistan drew the attention of Japan on persistent imbalance in bilateral trade, which was in favour of Japan and asked for improved access to Japanese markets.
The Japanese team assured to address the issue through consultation between the two countries.
The Japanese delegation was led by visiting Deputy Foreign Minister Ichiro Fujisaki, while Economic Affairs Secretary Dr Waqar Masood Khan led the Pakistani side.
The meeting comprehensively discussed the matters relating to trade, investment and economic co-operation.
On the subject of trade and investment, the Japanese side gave its views on the basis of interests expressed by the business community. It inquired about Pakistan's plans for establishing breeders' rights through a proper legislation.
It was explained that a law was on the anvil at the federal level, which would address this matter. On the subject of delays in meeting quarantine requirements for seed export from Japan, Pakistan clarified that it was ready to undertake necessary measures on a reciprocal basis.
The meeting also discussed issues relating to economic co-operation. Pakistan highlighted the fact that Japan has been historically the single largest development partner of Pakistan, but this support was suspended in May 1998.
While acknowledging the vital and generous support given by Japan in the form of rescheduling and grant assistance of $ 300 million in the wake of events of 9/11, it was underlined that the Japanese business was losing markets in Pakistan for lack of government support in the form of yen loans and credit guarantees.
It would be good for the Japanese business to compete with other countries on a competitive basis for procuring development work rather than face any handicap for lack of government support which might otherwise be available to the businessmen from other countries.
Ichiro Fujisaki said that Japan was preparing a development assistance strategy for Pakistan, which would hopefully be completed by mid-2004.
He said that experts group on yen loans in his delegation would closely evaluate the sectoral profiles and assess their investment potential.
He urged the Pakistani side to help them in putting together the assistance strategy and the work of experts group on yen loans.
He also urged Pakistan to finalise its response on the proposal of technical co-operation between the two countries. He was assured that this would be done shortly.
Japan's ambassador to Pakistan and senior officials from the finance, planning, industry, agriculture, commerce and investment ministries of both the countries attended the meeting.