Japan, Pakistan agree on better industrial cooperation

Islamabad : Pakistan and Japan have agreed to enhance cooperation in the industrial sector especially the modernisation of the local engineering industry.

The agreement came during a meeting between Minister for Industries and Production Makhdoom Khusro Bakhtyar and newly-appointed Ambassador of Japan to Pakistan Wada Mitsuhiro here on Friday.

The two decided to extend the Small and Medium Enterprises, mobile manufacturing policies and improved ease-of-doing-business steps taken by the government of Pakistan for the industrial sector. The minister discussed the business opportunities for Japanese Automobiles companies under the framework of a new automobile policy focusing on localization and making the auto sector export-oriented. He said these steps would revolutionise the automobile industry of Pakistan by connecting it to the global supply chain and distribution channels.

The minister also informed the ambassador on Mobile Device Manufacturing Policy. He said Pakistan's existing economic environment provides an excellent opportunity for Japanese companies to invest in mobile phone manufacturing.