Pakistan increase exports to Japan

ISLAMABAD: The Japanese government on Tuesday called on Pakistani authorities to improve access to ports to increase exports to Japan.

Japan's ambassador to Pakistan Kuninori Matsuda said Japan aims to expand trade relations with Pakistan and wishes to import mangoes, rice, fish and textile products into Pakistan. He requested that arrangements be made in ports that would facilitate the export of agricultural products.

“Japan will extend help to Pakistan in providing debt relief and after the preliminary work on the initiative an MOU (memorandum of understanding) will be formally signed with Pakistan,” Matsuda said during a meeting with Adviser to the Prime Minister of Finance and Revenue Hafeez Shaikh.

The ambassador confirmed all the assistance and help available to the Pakistani government. “With the regional peace and stable political situation regional trade will flourish and offer better opportunities to Pakistan,” he said.

The Pakistani government is trying to get permission from the Japanese government to export fruits and vegetables after obtaining clearance for its mango. The export of mangoes to Japan was a complex process due to the outbreak of coronavirus. Japan is a market for high value mangoes. Stock markets in the United Kingdom, Saudi Arabia, Norway, Sweden, Italy, Belgium and the Netherlands are growing slowly. Given the expected reduction in exports this year, the Japanese market should be further driven, according to analysts.

Japanese retailers are trying to import medical equipment and surgical instruments directly from Pakistan. In the past, these machines came to Japan via Germany. Shaikh said Japan is a long-time friend of Pakistan and has always supported the country.

“Pakistan’s relationship with Japan will continue to become stronger with every passing day,” he said in a statement.

The financial adviser briefed the ambassador on the economic situation last year and how the government has made efforts to reduce the effects of the Covid-19 epidemic. Shaikh said Pakistan's economy had begun to recover before the Covid-19 epidemic. “We had been successful in increasing our tax revenues, controlling our current account deficit, have generated a primary surplus, controlled our expenditures, put a ban on borrowing from the central bank and had been successful in creating a conducive environment for exports,” he said. “I am very hopeful that Pakistan would regain stability and equilibrium as the number of active cases of Covid-19 is declining.”

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