Japan Plans to Diversify Auto Sector in Pakistan

Japanese government planned to help Pakistan improve exports and build up the country’s automobile industry, a foreign envoy said on Thursday.

“The Japanese government has plans to support the government of Pakistan in export promotion, improvement of security through the provision of security equipment at the airports and diversification of automobile industry,” Ambassador of Japan Takashi Kurai added.

Kurai called on the Minister of State for Finance Rana Afzal Khan, according to a government statement.

Japan-based car assemblers, Suzuki, Honda and Toyota dominate the auto sector, but the market dynamics are changing after the introduction of new auto policy that is encouraging new entrants. Foreign and local ventures are setting up new plants to meet the growing demand of cars, sales of which increased 20 percent to more than 100,000 units in the first half of the current fiscal year of 2017/18.

The minister said Pakistan highly values its relationship with Japan. “Economic cooperation between the two countries would be brought to a much higher level with the passage of time.”

Full Story: TheNews

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