Islamabad, 3 February 2023 (TDI): The Finance Minister & Revenue of Pakistan, Ishaq Dar held an official meeting with the Ambassador of Japan to Pakistan, Wada Mitsuhiro, in Islamabad.

Both officials reiterated their government’s resolve to enhance and strengthen bilateral economic and trade relations between Pakistan and Japan. They also discussed the upcoming visit of the Finance Minister to Japan in February.

Remarks by representatives

During the meeting, Dar highlighted the importance Pakistan attaches to its relations with Japan. In this vein, he said, “Japan is one of the major development partners of Pakistan. We believed that the cooperation would strengthen in multiple fields for mutual benefit.”

The Finance Minister gave a brief overview of the economic challenges and apprised the Ambassador of economic policies and reforms of the government to set things on the right path.

In his turn, Mitsuhiro stressed that Japan greatly values its bilateral relations with Pakistan. He briefed Dar about the operations of Japanese entities in Pakistan and shared his commitment to work to enhance business and investment relations.

Also read: Pakistani Ambassador emphasized Pak-Japan cordial ties

The Ambassador expressed confidence in the economic policies of the current government and said that business and economic linkages would further strengthen between the two countries.

70 years of Pak-Japan relations

The year 2022 marks the 70th anniversary of Pakistan-Japan diplomatic relations. To commemorate the 70th Anniversary of the establishment of diplomatic relations, a reception was held at a local Hotel in Japan, on 28th April 2022.

During these years, bilateral ties have grown, with a primary focus on social development. Japan has assisted the country in the areas of health, agriculture, water supply, and disaster management.

The Japanese government provided $82.12 million in aid to Pakistan in 2019. With $1.5 billion in annual trade, Japan is one of Pakistan’s most important trading partners. Japan has played a leading role in Pakistan’s development.

The Indus Highway, Thermal Power Station Jamshoro, Bin Qasim Thermal Power Station, and Kohat Tunnel are all projects funded by Japan in Pakistan. In the meantime, to develop as a modern country, Pakistan will need to look to advanced economies.

Pakistan, in collaboration with Japan, may be able to open factories in this regard. Tourism is another area that requires proper projection. The South-Asian country is the home of the ancient Gandhara civilization and Buddhist relics.

Japanese tourists may be interested in visiting Pakistan’s archaeological Buddhist sites. This will also promote people-to-people exchanges between both countries.