Pakistan textile industry sees Japan as a promising market

Saarc Chamber of Commerce and Industry vice president Iftikhar Malik, on the auspicious occasion of birthday of His Imperial Majesty the Emperor of Japan and their National Day falling on December 23, said that it was matter of deep satisfaction for him that Pakistan and Japan enjoy close and cordial relations. Since the establishment of diplomatic relations between the two countries, the friendly relations between Pakistan and Japan are mainly centered on economic cooperation which needs to be strengthened further.

Pakistan textile industry see Japan as a promising market for its textile products but Pakistan is facing a disadvantageous position because of differential market access, as compared to regional competitors like India, Bangladesh and ASEAN countries. Last year, Japan imported textile products amounting to $ 38 billion, whereas share of Pakistan was only $123 million less than 0.33 percent.

Although, Pakistan has GSP+ status and is getting on average 1.4 percent lesser duties than developed countries, but yet the tariff imposed on Pakistan’s exports is 5.36 percent (on average) more than India/Bangladesh and ASEAN countries.

Regarding exports from Pakistan to Japan,T he UBG chairman said that other regional countries are enjoying duty free access to the Japanese market, either because of regional trading arrangements or having a LDC status.

He said that auto industry of Japan and textile industry of Pakistan contributed significantly to the good relationship between two countries.

Pakistani raw cotton had supported the textile industry in Japan after World War and contributed to the economic revival of Japan. Japanese in response exported a textile machine to Pakistan.

Japan International Cooperation Agency (JICA) expressed its desire to start a technical cooperation project to support the Pakistani textile industry in 2016 in order to produce high value added products and strengthen its international competitiveness.

On the national day of Japan, he requested the Japanese embassy for issuance of longer-term validity multiple entry visas to Pakistani businessmen.
He also emphasized commitment in further promoting economic cooperation, and activating cultural and people-to-people exchange between Japan and Pakistan.

FPCCI president Mian Adrees on the auspicious occasion visited the business community of Pakistan to joined him in expressing their heartiest felicitations to His Excellency and the people of Japan. He expressed that Japan has always remained at the forefront to assist Pakistan in the socio-economic development.