Japan and Pakistan discuss increasing investment and trade in important areas.

According to a statement released by Pakistan’s Press Information Department on Saturday, Japan and Pakistan have conducted discussions on enhancing bilateral investment and commerce as well as growing collaboration in important areas.

In Tokyo on Friday, both nations hosted the 8th Pakistan–Japan Government–Business Joint discussion and the Pakistan Business Forum. This was the first time the discussion had been held in the Japanese capital since December 2018.

According to the PID, Takuo Komori, Japan’s legislative vice-minister of economics, trade, and industry, and Rana Ihsaan Afzal Khan, Prime Minister Shehbaz Sharif’s assistant on commerce, co-chaired the discussion.

With an emphasis on enhancing the trade and investment climate and promoting practical cooperation, the two sides discussed ways to improve bilateral economic relations.

In a statement, the PID stated, “The Pakistani side outlined Pakistan’s economic priorities and highlighted opportunities for collaboration in sectors such as information technology, mining and minerals, and agriculture and agri-food products.”

“The Japanese side discussed areas where ongoing engagement and follow-up could further facilitate business activity and shared perspectives on the operating environment for Japanese companies in Pakistan.”

Following a protracted financial crisis that almost forced it into default in the middle of 2023, Pakistan is stepping up its economic diplomacy to boost trade relations and draw in foreign investment.

Members of the Japan–Pakistan Business Co-operation Committee (JPBCC) and the Pakistan–Japan Business Forum (PJBF) were among the private sector representatives and senior officials from both nations who attended the Pakistan–Japan Government–Business Joint Dialogue.

The statement said that in order to promote mutually beneficial economic cooperation between Pakistan and Japan, participants reiterated the significance of consistent government-to-government interaction backed by close coordination with the business sector.

Following the Joint Dialogue, business executives from Japan and Pakistan attended the Pakistan Business Forum, which was co-organized by the Japan External Trade Organisation (JETRO) and the Embassy of Pakistan in Tokyo.

Selected sectoral presentations showcasing real-world collaboration between Pakistani and Japanese partners were showcased during the Forum. The Trade and Investment Counsellor of the Pakistani Embassy in Tokyo gave a talk titled “From Trade to Investment: Building Japan–Pakistan Joint Value Chains.”

“Mr. Abdul Hameed, Pakistan’s ambassador to Japan, gave closing remarks at the Forum, emphasising the value of long-term collaboration, trust-building, and consistent engagement in promoting Pakistan-Japan economic cooperation,” the PID continued.