The Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi met with H.E. Mr. Tuneo Kitamura, Japanese Vice-Minister for Economy, Trade & Industry and his Japanese delegation at his residence in Islamabad today. Both counterparts discussed various issued related to trade and investment. Mr. Kitamura congratulated the Pakistani Minister on successful power sector reforms that Pakistan has undertaken and he lauded the current Pakistani government’s vigor in this respect. He also appreciated the considerable improvement the present government has achieved as far as security and infrastructural development are concerned.
Mr. Jatoi highlighted that facilities such as the National Industrial Parks, under the Ministry of Industries and Production, could be utilized by Japanese companies and would give them a secure environment with infrastructural necessities and tax-free incentives to produce there. The Minister for Industries and Production emphasized that the country would benefit from Japanese cutting edge technology for power and automobile sector projects. He added that Pakistan needs power through gas as well as hydroelectric, solar and other renewable energy sources. Furthermore, Mr. Jatoi apprised the Japanese Vice-Minister of the 9700 sq. km Gharo wind corridor for wind power generation as well as ample land all across Pakistan for solar power generation, where Japan can invest.
Speaking on the Auto Industry Development Programme-II (AIDP-II) or the new ‘Auto Policy 2015’, Mr. Jatoi maintained that pioneer industries would get concessions from the Pakistan government. Mr. Kitamura also looked forward to the new auto policy and hoped that the Pakistani government will give incentives to existing investors as well. The Pakistani Minister assured that he would try to extend as much support as he can for new and existing stakeholders in the automobile industry and will ensure that a competitive environment prevails.
The Minister for Industries and Production looked forward to a greater level of cooperation between Pakistan and Japan in areas of trade, investment, development, energy and capacity building. He hoped that both countries could help raise the US$ 1.94 billion bilateral trade volume, which is well below the potential of such a partnership. Mr. Jatoi guaranteed that his Ministry would give any and all support possible in all respects.
The Ambassador of Japan to Pakistan H.E. Mr. Hiroshi Inomata was also present.
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