Federal Secretary Commerce, Mohammad Younus Dagha, held a meeting with a Japanese delegation led by Senior Deputy Minister of Foreign Affairs Kazuyuki Yamazaki on Thursday in Islamabad. Secretary Commerce highlighted that Pakistan and Japan enjoy excellent commercial ties, which are deeply rooted in history. He further said that present level of bilateral trade is around $ 2.3 billion. Japan's exports to Pakistan $ 2.03 billion against Pakistan's exports to Japan $ 250 million.
Secretary commerce said that Pakistan's exports to Japan have declined in the recent past and the main reason for the dormancy is Japan's preferential market access commitments, especially in Pakistan's priority sectors such as textile, agriculture and leather products, with other trading partners like India, Bangladesh and ASEAN countries, who enjoy duty free access either because of bilateral/regional trading arrangements or LDC status.
Younus Dagha said that in order to provide a level-playing field to its exporters, Pakistan proposed an EHP/PTA and formation of JTC to discuss this issue, during the 5th Joint Government Business Dialogue (JGBD) held in 2015 at Islamabad. He also requested the Japanese side to consider revising travel advisory which is hindering B2B interactions and affecting our bilateral trade.
Secretary Commerce highlighted the need for mutual facilitation of businessmen through multiple entry visas to promote trade and investment. Both sides can work out a mechanism of guarantees by trade bodies.
Kazuyuki Yamazaki said that Japan and Pakistan enjoy excellent bilateral and commercial ties and Pakistan holds a lot of potential and is a sizeable lucrative market for Japanese companies. He said that with the amelioration of Security conditions in Pakistan Japanese companies are keenly interested in investment.
He further said that Japan will take all necessary steps to increase bilateral trade with Pakistan and is looking forward for more and more interaction in this regard.-PR