RAWALPINDI: Japan ambassador to Pakistan Hiroshi Inomata on Monday said that the Japanese business community is reluctant to invest in Pakistan owing to deteriorating law and order situation.
During his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI), he said that Japan was the world largest importer of textile products, but it prefers Sri Lank and India over Pakistan. “There is high rate of import duty in Pakistan whereas Sri Lanka and India have low tax ratios,” he said. He added that Japan is keen to enhance trade with Pakistan and would support every effort which would be initiated in this regard.
He also discussed various trade-related issues with RCCI President Syed Asad Mashadi during the visit. RCCI Vice President Saboor Malik, former presidents Sohail Altaf, Shimail Daud and members of the executive committee were also present on the occasion.
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 President RCCI 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.
