Pak-Japan forum: Japan has a ‘more cautious approach’

Ambassador sees security concerns as a major impediment to investment

Anusha Zahid November 22, 2014

KARACHI: After China’s more-than-willing helping hand to Pakistan, Ambassador of Japan to Pakistan Hiroshi Inomata has said that Tokyo is adopting a “more cautious” approach when it comes to investing in the country.

China has signed multi-billion dollar deals in various sectors of the Pakistani economy. The agreements will see them predominantly investing in the energy sector, an area where Pakistan needs to make a lot of headway if it hopes to address the power crisis.

In a recently held Pak-Japan Business Forum, the Japanese ambassador was also asked if the country would like to follow suit.

“We are just more cautious,” said Inomata. “We’re not saying China is short-sighted or long-sighted but we have a more cautious approach.”

An interactive session with the Japanese ambassador also saw participants discussing at length bilateral trade between the two countries.

The session named ‘Economic relations between Pakistan and Japan’ was attended by stakeholders from different sectors including textiles, leather, pharmaceuticals and automobiles.

The ambassador also highlighted how bilateral trade between the two countries began, recent ongoing projects across different sectors and factors that hamper further investment and assistance.

Recalling his first visit to Karachi to meet the All Pakistan Textile Mills Association, he appreciated Pakistan’s contribution to the recovery of textile sector in postwar Japan.

Bilateral trade that officially started in 1954 has since then been flourishing.

Total exports to Japan amounted to $202 million, while imports valued $1,398 million in 2013-14. Net inflow of foreign direct investment (FDI) from Japan in 2013-14 is at $44.1m, of which FDI accounts for 41%.

Published in The Express Tribune, November 23rd, 2014.

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Haroon Rashid | 5 years ago | Reply | Recommend

Honorable Excellency Hiroshi Inomata for the cautious note in your address. Excellency Pakistani imports from Japan $1398 million for 2013-14 tells the true picture of Pakistan's preference, loyalty to Japan, Japanese products. Yes the Chinese are not cautious with Pakistan and they are working with open heart. Excellency relationship should preferably be without any caution, particularly with Japan. Pakistan markets are opened for Civilian Nuclear Power, Transport, Automobiles, Civil Aircrafts, Rolling stock for railways, high speed rail, and Mitsubishi Regional Jet. Excellency I suggest your endorsement to the visit of the Honorable Prime Minister Japan who has visited Vietnam, Cambodia, and other markets for market access. With scarcity of energy we need the infrastructure of Civil Nuclear Power to meet the shortages, and compliance to Climate Change at the APEC 2014 forum. Pakistan is a dumping ground for Pakistan assembled cars without Safety, and Quality Control lby international Quality Control Organisation, and Road Safety for cars, closely monitored by the State Anti-Trust authority for Cartelisation. Shinkasen Railways has beaten air travel in Japan, with speed, comfort, and costs. Pakistanis will always welcome Japanese model for railways high speed. The Mitsubishi Regional Jets are being watched and will certainly find our airspace with accreditation for flying in the CAA purview. Suggest the Honorable Prime Minister Japan should visit Pakistan and make announcements without any caution, pre-caution. As China is investing and earning.

Hedgefunder | 5 years ago | Reply | Recommend

Everyone is cautious when it comes to Pakistan. Pakistan carries Safety & Economic warning, Invest at your own risk ! The odds are staked against you.

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