Pakistan Invites Japanese Companies to Help Localization in Auto Sector

Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar, met the newly appointed Ambassador of the Government of Japan to Pakistan, H.E Wada Mitsuhiro, in his office today. During the meeting, both shared the key areas of cooperation in the industrial sector and the modernization of the local engineering industry. The Minister discussed the business opportunities for Japanese Automobiles companies under the framework of the new automobile policy focusing on localization and making the auto sector export-oriented. He invited the Japanese auto companies to explore the potential of exporting auto parts to other countries. He said that these incremental steps would revolutionize the automobile industry of the country by connecting it to global supply chain & distribution channels. Furthermore, the Minister apprised the Ambassador on the Mobile Device Manufacturing Policy. He said that the new policy has started bearing fruit now, and Pakistan’s existing economic environment provides an excellent opportunity for Japanese companies to invest in mobile phone manufacturing. The Ambassador shed light on mutual cooperation between JICA and the Ministry of Industries and Production to enhance the export base and suggested a bilateral forum for issuance of certificates for international standards of export goods like auto parts, tires, chemicals, IT & communications and enhancement of engineering development skills. The meeting ended on a high note that mutual cooperation between Pakistan and Japan would be extended in light of new automobile, SME, and existing mobile manufacturing policies and improved ease-of-doing-business steps taken by the government of Pakistan for industrial sectors.