ISLAMABAD: Federal Minister for Industries & Production Makhdoom Khusro Bakhtyar in a meeting with Japanese Ambassador in Pakistan Kuninori Matsuda, here Monday. - PID photo

ISLAMABAD: Pakistan and Japan have agreed to extend cooperation in the automobile, engineering and mobile phone manufacturing industries.
This was agreed upon during a meeting between Minister for Industries and Production Makhdum Khusro Bakhtyar and Ambassador of Japan Kuinori Matsuda on Monday.
During the meeting, both shared the key areas of cooperation in the industrial sector and modernisation of the local engineering industry.
Bakhtyar invited the Japanese automobile companies to explore the potential of exporting automobile parts from Pakistan to other countries. He discussed the business opportunities for Japanese automobiles companies under the framework of new auto policy, focusing on localisation and making the auto sector export-oriented.
He said these incremental steps will revolutionise the automobile industry of the country by connecting it to global supply chain and distribution channels.
The minister highlighted the setting up of Karachi Industrial Park on 1,500 acres of Pakistan Steel Mills (PSM) land, saying the project will provide opportunity to foreign investors, including Japanese companies, to gain foothold in Pakistani market as well as abroad by capitalising on cheap labour and port location.
Furthermore, the minister apprised the ambassador of the Mobile Device Manufacturing Policy. He said the new policy has started bearing fruits now and Pakistan’s existing economic environment provides an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.
The ambassador shed light on mutual cooperation between JICA and the Ministry of Industries and Production to enhance export base and suggested a bilateral forum for issuance of certificates for international standards of export goods like auto parts, tyres, chemicals, IT and communications and enhancement of engineering development skills.
The meeting ended on a high note that mutual cooperation between Pakistan and Japan would be extended in light of new auto, SME and existing mobile manufacturing policies and improved ease-of-doing-business steps taken by the government of Pakistan for the industrial sector. TLTP