On behalf of the Japan-Pakistan Business Co-operation Committee (JPBCC), please allow me to extend my warmest congratulations to the members of the Pakistan Japan Business Forum (PJBF) on the auspicious occasion of its 20th anniversary.
Pakistan and Japan have had friendly relations for quite a long time. Over the past years, not once has either friend left the other’s side. Despite having our friendship tested more than once and passing through various difficult phases, both of us have stood by each other. Our friendship started in the early 1950s when Pakistan, as an agro-based country, started producing some of the world’s finest cotton. The specialty cotton imported from Pakistan greatly contributed to the prosperity of Japan’s textile industry, which supported the post-war economic reconstruction in Japan. On the other hand, Japan’s advanced spindles and other textile machinery helped to jump-start industrialization in Pakistan. Over time, our countries became good trading partners.
The JPBCC was established in 1984. Since then, we have been promoting bilateral business ties, trade, investment and economic activities. Especially, since the establishment of the PJBF, the JPBCC and PJBF, as reciprocal partners, have been playing an active and vital role in expanding and strengthening business and social relations between Pakistan and Japan. The 8th Pakistan-Japan Private Sector Business Dialogue with the PJBF was held in December 2018, achieving intensive and constructive discussions among the attendees. We discussed challenges to, and desired remedial measures for, strengthening bilateral economic ties in eight sectors: infrastructure, automobiles, textiles, IT, fishery products, surgical equipment, sporting goods, and finance. Considering the medium- and long-term economic development of Pakistan, it is important to utilize the combined power of the public and private sectors, and to further reinforce economic ties between our countries. Additionally, it is important to have flexible follow-up discussions in order to fully address the issues that come up during dialogue meetings.
The Khan cabinet is committed to economic reform, export promotion, and increased investment. Pakistan’s population surpasses 200 million and its economy is expanding, but the number of Japanese companies, mostly major corporations, which have expanded into the country is still limited to 79. The pace of market penetration by Japanese companies is expected to accelerate. I am convinced that more Japanese companies will enter the Pakistan market going forward.
Due to the spread of COVID-19, it is difficult to predict when the next business dialogue will be held, but at this difficult juncture it is important to continue our dialogue. While praying for the early subjugation of the COVID-19, let us reaffirm our commitment to further reinforce the friendships and partnerships that exist between our two countries.
In closing, please allow me to express my congratulations to the PJBF once again on this important milestone in aiming for further advancement.
Copyright Business Recorder, 2021
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