Japan Special Economic Zone will be a landmark achievement

KARACHI: Karachi Chamber of Commerce & Industry’s President Muhammad Haroon Agar has stated that Japan Special Economic Zone will prove as milestone in the Economic and Commercial Cooperation between Pakistan and Japan.

He appreciated the initiative of Sind government through Sind Board of Investment to sign the Memorandum of Understanding with Japan to execute the establishment of Japan Special Economic Zone earmarked near Dhabeji in the vicinity of Karachi city.

Exchanging views with the a Japanese delegation of businesspersons led by Dr Hironao Takahashi, Honorary Investment Counsellor, Board of Investment, Government of Pakistan, he emphasized to promote SMEs which are the driving force for the growth of economy, Pakistan should learn and adopt the strategies of Japanese SMEs to uplift the SMEs sector here in Pakistan, JETRO Japan External Trade Organization Pakistan and KCCI may join hands for mutual cooperation to promote SMEs in association with its Japanese counterparts.

He focused that Pakistan’s exports to Japan can be multiplied while exploring the vast missed and untapped opportunities. The Pakistan Japan Special Economic Zone planned for establishing in Karachi will prove as a milestone for enhancement of bilateral trade.

He drew the attention of Japanese delegation towards exports potential of Pakistan fruits especially mango & citrus fruits, vegetables, rice, and livestock along with textile products including cotton yarn, woven fabrics, leather goods, surgical & sports goods, handmade carpets, fish and fish products.

He highlighted that Pakistan produces world’s best mango which has great demand in Japan. He stated that Pakistan Japan trade was facing imbalance which cannot be abridged because Japan is one of the world’s largest economy, however, Japan offers tremendous opportunities as the Pakistan’s exports are just 11 percent of what Japan exports to Pakistan.

He also appreciated the efforts of JETRO Japan External Trade Organization to develop and promote SMEs sector in Pakistan and JICA Japan International Cooperation Agency for technical training programmes. He said that Pakistan Japan major joint ventures were in automobiles and motorcycles, investment banking and power plants.

He asserted upon the Japanese companies to invest in the Japan Special Economic Zone to explore more opportunities of joint ventures in power generation, construction of mega projects etc. He concluded that Pakistan offers great opportunities to Japan due to its strategic location on the crossroads of South Asia, Central Asian Republics & Middle East and through Gawadar; Japan while building a manufacturing base in Pakistan can tap the regional huge markets. President KCCI also invited Japanese companies to participate in KCCI’s 10th International My Karachi Exhibition to be organized in July 2013 whereby an International Pavilion is planned for B2B and B2C meetings.

He apprised about the vital role of KCCI in the socioeconomic development of Pakistan and to promote trade and industry in Karachi and elsewhere.

Dr Hironao Takahashi, Honorary Investment Counsellor, Board of Investment, Government of Pakistan, speaking on the occasion apprised of the details of Japan Special Economic Zone planned at Dhabeji in the vicinity of Karachi city.

Initially, 250 acres land is allocated which will be enhanced to 2000 acres. He stressed upon the need of productive action on discussion between Pakistan Japan Business Community and frequent interaction.

He highlighted that KCCI can join hands with Tokyo Chamber of Commerce & Industry for mutual cooperation and to facilitate the business communities of two countries. Japanese companies from auto sector have shown their interest in the Japanese Special Economic Zone. He said that Pakistan has flourishing potential in the region and the Japanese companies can take the advantage of its geostrategic location.

He sought cooperation of KCCI to attract the Japanese companies to invest in the Japan Special Economic Zone and likewise assured his close cooperation to KCCI on matters of mutual interest. Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting.