Islamabad, Jan 9:During the 8th Japan-Pakistan High-Level Economic Dialogue (JPHLEPD) held in Tokyo, the Japanese government urged Pakistan to address several critical issues impacting bilateral economic relations. A primary concern highlighted by Japan was the import restrictions affecting Japanese automobile manufacturers operating in Pakistan. These restrictions have posed significant challenges to the automotive sector, hindering the import of essential manufacturing equipment and components necessary for production.
In addition to the automotive sector concerns, Japan emphasized the importance of ensuring the safety of personnel involved in Official Development Assistance (ODA) projects within Pakistan. The Japanese delegation called for enhanced measures to protect these individuals, ensuring the smooth execution of development initiatives.
The Japanese government also stressed the need for Pakistan to streamline tax and customs exemption procedures. They pointed out that a lack of understanding of bilateral international commitments has led to complications in these processes, affecting Japanese businesses operating in the country.
Furthermore, Japan urged Pakistan to adhere consistently to the International Monetary Fund (IMF) program, highlighting its significance for economic stability and international confidence. The Japanese delegation also recommended the development of essential infrastructure for industrial sites, including Special Economic Zones (SEZs), to attract and facilitate investment.
On the Pakistani side, officials emphasized the importance of economic cooperation and the resumption of Yen loan projects. They advocated for the promotion of Pakistan’s exports, particularly mango varieties and textile products, and proposed the establishment of a Joint Working Group on trade promotion and product development between the Japan External Trade Organization (JETRO) and the Trade Development Authority of Pakistan (TDAP).
This high-level dialogue underscores the commitment of both nations to strengthen economic ties and address mutual concerns. By resolving these issues, Japan and Pakistan aim to enhance bilateral trade, investment, and development cooperation, fostering a more robust economic partnership in the years ahead.
