KARACHI, Sept 14: The Japan-Pakistan bilateral trade is low and below potential. This was stated by Japanese Ambassador to Pakistan Nobuaki Tanaka during a press conference at the Japanese Consulate here on Wednesday. The envoy was of the view that Pakistan was in deficit viz-a-viz Japan in the bilateral trade.
He pointed out that in the past, Japan had imported a lot from Pakistan, particularly textiles, in 1996-97 and 1997-98 and was only next to the United States. Mr Tanaka believed that Pakistan’s textile exports competitiveness had been steadily eroding and had lost ground.
However, he hoped that in future they will be able to make headway, but hastened to add that it depends on the mutual efforts.
The envoy pointed out that a new chapter had been opened in Japan-Pakistan relationship by the visits of two prime ministers: Japanese Prime Minister Koizumi visited Pakistan in April this year and Premier Shaukat Aziz visited Japan in August.
Mr Tanaka said on both the occasions the two leaders highlighted the importance of Pakistan-Japan relationship and they acknowledged the fact that they were entering into a new phase of bilateral ties.
He said that Japan had restored its economic assistance programme to Pakistan, including the yen loan. “Our bilateral grant assistance is fully restored also with increased grassroots assistance programme.”
Mr Tanaka said Japan had also urged the Asian Development Bank and the World Bank to be more forthcoming in the programme to assist Pakistan. As a result, he said, these two organizations were committing over three years more than one billion dollars each year.
The envoy pointed out that Japanese capital and investment were about to flow into Pakistan. “Business visitors from Japan to Pakistan are also steadily increasing. The Japanese businessmen are keen for doing business with Pakistan,” he added.
Mr Tanaka was of the view that Pakistan should undertake all-out efforts to invite foreign capital and technology.—APP
