KARACHI: Pakistan, in collaboration with Japan International Cooperation Agency (JICA), will seek to raise the quantum of trade with Japan through promotion of its textile products.
JICA members have recently toured the textile factories located in Karachi to examine the quality and market value of Pakistani textile products which hold a meager share in the Japanese market.
The tour was organised by Trade Development Authority of Pakistan (TDAP) as part of a concerted effort focusing on the Japanese agency to allow Pakistani exporters to gain a stronger foothold in the lucrative Japanese apparel market, sources told Pakistan Today.
It was indicated that JICA representatives in Karachi will shortly prepare a report in the context of the huge potential and requisite quality of Pakistani textile goods and push Japanese importers to consider Pakistan, a viable trading partner.
It is worth mentioning that TDAP and JICA have previously inked a MoU in a meeting last year to formulate a strategy envisioning greater cooperation between the two agencies for development of exports from Pakistan. In the meeting which was attended by a JICA delegation comprised Chief Representative of JICA in Pakistan Otake, Project Formulation Adviser Tomoharu and Mineko Sato,
TDAP’s former chief Syed Mohibullah Shah, former Secretary Mirza Kareem Baig, and other senior officials of the authority, JICA agreed in principle to not only aid the authority in formulating the means of tapping Japanese market, furnishing data on the preferences of Japanese consumers and management techniques; it also pledged to help Pakistan in its endeavour to target other Asian markets through Japanese trading companies. According to sources, the authority would organise the visit of Pakistani apparel exporters to Japan for a meeting the with the importers of foreign country, the sources said adding earlier that TDAP has forwarded invitations to major Japanese businesses to participate in Pakistan Expo 2011 to be held here next month.
Pakistan’s textile stake in the Japanese market is relatively low; the move is expected to boost the existing trade volume between the two countries, they claimed.
According to sources, Pakistan’s share in the total imports of Japan was a paltry 0.03 percent while Japan enjoys a share of 0.34 percent in the total imports to Pakistan, sources said. Presently Pakistan id exporting $68-70 million worth of cotton yarn and woven fabrics to Japan while the share of other items including leather and leather manufacturers, sports goods and fish and fish products, were $26 million, $17 million and $9 million respectively in the foreign market.
In contrast, Pakistan is importing road vehicles, boiler/machinery and appliances, iron and steel, telecommunication equipment and organic chemicals from Japan of worth $950 million, $ 355 million, $ 75 million, $89 million and $37 million, respectively.
