ISLAMABAD: Federal Minister for Industries and Production, Makhdom Khusro Bakhtyar and Japanese ambassador to Pakistan Kuinori Matsuda on Monday discussed issues related to auto industry.

During the meeting, both shared the key areas of cooperation in industrial sector and modernisation of local engineering industry.

The Minister discussed the business opportunities for Japanese Automobiles companies under framework of new auto policy focusing on localisation and making the auto sector export-oriented. He invited the Japanese auto companies to explore potential of exporting auto parts to other countries. He said those incremental steps would revolutionize the automobile industry of the country by connecting it to global supply chain & distribution channels.

During interaction, the Minister highlighted the setting up of Karachi Industrial Park on 1500 acres of PSM land, and said that this project will provide opportunity to foreign investors including Japanese companies to gain foothold in Pakistani market as well as abroad by capitalizing on cheap labour and port location.

Furthermore, the Minister apprised the Ambassador on Mobile Device Manufacturing Policy. He said that new policy had started bearing fruit now and Pakistan's existing economic environment provides excellent opportunity for Japanese companies to investment in mobile phone manufacturing.

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

Both the Minister and ambassador agreed on mutual cooperation between Pakistan and Japan in light of new auto, SME and existing mobile manufacturing policies and improved ease-of-doing-business steps taken by government of Pakistan for industrial sector.-PR

Copyright Business Recorder, 2021