LAHORE: Japan is one of the largest economies in the world and is very important for Pakistan for being one of the largest donors and a good trading partner but to draw the real benefit Pakistani businessmen would have to focus on quality.
This was stated by Pakistan’s Trade Minister to Tokyo Dr Talat Imtiaz while talking to LCCI Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad and Executive Committee member Mian Zahid Javaid here at Lahore Chamber of Commerce and Industry on Thursday. LCCI former President Mian Anjum Nisar and former Senior Vice President Sohail Lashari also attended the meeting that continued for well over an hour.
The Trade Minister said that she would remain focused to country image building and promotion of bilateral trade during her stay in that country.
She said that Pakistani goods are best of the best in the world but the fact remains that the outer world has little knowledge about Pakistanis’ expertise and craftsmanship. She said that since Japanese are quality conscious therefore the business community would have to ensure quality in dealing with foreign buyers particularly with those belonging to Japan.
Speaking on the occasion, the LCCI Senior Vice President Irfan Iqbal Sheikh said that the share of Japan in Foreign Direct Investment in Pakistan is very low despite the fact that the country has a unique standing in terms of its strategic location and countless investment opportunities.
He said that there is huge scope in the field of power sector as Pakistan is in dire need of technologies in renewable/alternate energy, solar energy, wind energy etc. Organizations like Japan International Cooperation Agency JICA in social sector, Japan External Trade Organization JETRO in promotion of trade and investment have played great role in Pakistan but more assistance is needed in order to bring long term peace and prosperity in Pakistan. Major exports of Pakistan to Japan consist of cotton yarn, petroleum oils, woven cotton fabric, vegetables, electromedical apparatus, leather, leather garments, carpets and sports goods etc. The main imports from Japan are cars, vessels & other floating structures, products of iron, trucks, parts & accessories of motor vehicles, textile machinery and etc.