TEXT: I welcome high level Japanese delegation to Islamabad for holding Joint Business Dialogue between Pakistan and Japan, which is taking place as we celebrate 70th anniversary of the establishment of diplomatic relations between Pakistan and Japan. Economic cooperation between Pakistan and Japan has always been important and significant, be it in the form of bilateral trade, foreign direct investment or assistance in development sector and technology transfer. We will begin the dialogue with an objective to support and complement our strengths for larger and better outcomes for both countries.

We are also happy to welcome the private sector delegates from Japan whose role will be critical for the success of this business dialogue. There are more than eighty Japanese companies operating in Pakistan for decades with a high level of satisfaction; and, we will encourage more such ventures from Japan to become a part of Pakistan’s emerging economy.

We could not hold this dialogue earlier due to the pandemic, however I appreciate the joint efforts made by Japanese Ministry of Economy, Trade and Industry (METI), Ministry of Commerce (MoC) Pakistan and both of the embassies in Islamabad and Tokyo to execute decisions made during the last round of talks, especially putting in place the effective mechanism of Monitoring Committee to address any business level issues and challenges.

Trade facilitation is one of the key pillars for economic development, we are fully committed to implement reforms through automation to ensure efficiency and transparency. Through many indigenous reform initiatives, we will continue to improve and modernize regulatory and operational trade infrastructure in Pakistan.

Despite limitations and challenges of covid during the past years, we have seen a lot of activity between Pakistan and Japan in the areas of trade and investment. Although, our companies were unable to participate in trade events in Japan due to travel restrictions, we participated either virtually or in a hybrid mode to offer Japanese customers sourcing options. Now, as the world is opening, we see a lot of interest by Pakistani companies to explore opportunities in Japan through sectoral delegations and exhibiting at trade exhibitions.

In addition to the efforts and support at the level of our governments, I must also appreciate the role of trade bodies such as Japan Pakistan Business Cooperation Committee (JPBCC) and Pakistan Japan Business Forum (PJBF) who remain a vital part of this high-level dialogue.

We are also looking forward to the success of Private Sector Dialogue and Investment Seminar, being organized on the sidelines of the Government Dialogue.

I further take the opportunity to thank Japanese government, JICA, Japanese companies and Japanese people to stand with Pakistan when the country and its large population is facing devastation by massive floods.

Copyright Business Recorder, 2022