- Japanese ambassador says investors reluctant to invest due to law and order, Pakistan not given priority in textile import due to high rate of duty
Exchanging views with Rawalpindi Chambers of Commerce and Industry (RCCI) President Syed Asad Mashadi during his visit to chambers on Monday, Japanese Ambassador to Pakistan Hiroshi Inomata has said that Japanese business community is reluctant to invest in Pakistan owing to deteriorating law and order situation.
“Japan is the world largest importer of textile but due to high rate of import duty in Pakistan Japan is not prioritising Pakistan for textile imports to Japan as neighbouring countries of Pakistan like Sri Lanka and India have low ratio of taxes. Japan is keen to enhance bilateral trade relations with Pakistan and will support every activity which will be initiated in this regard,” the Japanese dignitary said.
RCCI Vice President Saboor Malik, former presidents Sohail Altaf, Shimail Daud, members executive committee and other members of the chamber were also there.
The ambassador said that Japan will assist Pakistan in technical support and interaction between the business communities will be enhanced to boost the bilateral trade. He said that Japanese companies are already working in health, education and energy sector of Pakistan and mutual cooperation will be enhanced in future.
Speaking on the occasion, RCCI President Syed Asad Mashadi said that Japan must transfer technology to Pakistan and increase its investment in the country. He said that trade volume between the two countries is around $ 2 billion and it is need of the hour to take solid steps to boost the business activities between Pakistan and Japan. He said that RCCI trade delegations will participate in two expos which are being held in Tokyo this year to promote direct interaction between business communities of both sides.
