"Pakistan-Japan Economic Zone planned for establishing in Karachi will prove as a milestone for enhancement of bilateral trade", expressed by Anjum Nisar, President, Karachi Chamber of Commerce & Industry in the Joint Meeting of Diplomatic Affairs Sub-Committee-KCCI & Research & Development Sub-Committee-KCCI. H.E. Mr. Akinori Wada, Consul General of Japan was invited as the Chief Guest in the said meeting. Anjum Nisar, President-KCCI welcomed him and expressed his gratitude and high regards towards better friendly relationship among the Governments and people of both Pakistan & Japan. He apprised about the role of KCCI towards promotion of trade & business activities at national & international level. Mr. Akinori Wada, Consul General of Japan in reciprocal, expressed gratitude and solidarity for Pakistan and its citizens.

While speaking at the occasion, Anjum Nisar, President Karachi Chamber of Commerce & Industry drew the attention of Consul General of Japan towards exports potential of Pakistan fruits especially mango & citrus fruits, vegetables and livestock along with textile products including cotton yarn, woven fabrics, leather goods, surgical & sports goods, rice, hand-made-carpets, fish and fish products. He highlighted that Pakistan produces world's best mango which has great demand in Japan and thus its export must be enhanced. Anjum Nisar, while expressing gratitude to Japan for playing role in the economic development of Pakistan articulated that Pakistan-Japan Economic Zone which is planned for establishing in Karachi will prove another milestone for enhancement of bilateral trade and the economic development of Pakistan. He also expressed his gratitude for Japanese grant in "Friends of Pakistan" Donor Conference, however, he was of the view that Pakistan need trade instead of aid. He stated that Pakistan-Japan trade is facing imbalance which cannot be abridged because Japan is the world's 2nd largest economy, however, Japan offers tremendous opportunities to Pakistan as the exports from Pakistan to Japan is 0.01% of Japan's global imports. He said that Pakistani exports to Japan can be multiplied by exploring the vast missed and untapped opportunities. He appreciated that Japan has the world largest and progressive network of Small Medium Enterprises (SMEs). Since the SMEs are one of the principal driving forces for the growth of economy, so Pakistan should learn and adopt the strategies of Japanese SMEs to uplift the SMEs sector here in Pakistan, he added. He also appreciated the efforts of JETRO (Japan External Trade Organization) to develop and promote SMEs sector in Pakistan. He also stated that Pakistan has world's best picturesque sights and landscapes and points of tourists' attraction therefore both sides should encourage the tourism. He informed that Pakistan has one of the oldest civilization viz Meonjo Daro and Harrapa which are also a source of attraction for Japanese. He said that Pakistan-Japan major joint ventures were in automobiles and motorcycles, investment banking and power plants and he asserted to explore more opportunities of joint ventures in power generation, construction of mega projects etc.

Arif Balgamwala, Chairman, Diplomatic Affairs Sub-Committee-KCCI in his speech complimented the Consul General of Japan for his efforts for promoting the trade relations between two countries. He said that recent Pak-Japan mega projects were Kohat Tunnel Project, Ghazi Barotha Dam Project which would help in the development of Pakistan. He said that Pakistan require assistance of Japan in the field of modern technology transfer which was the need of the day.

Nadeem Zafar, Chairman, Research & Development Sub-Committee-KCCI in his speech expressed his gratitude to the Consul General of Japan for all time friendly support and assistant to Pakistan. He stated that Pakistan offers great opportunities to Japan due to its strategic location on the cross-roads of South Asia, Central Asian Republics & Middle East and through Gawadar, Japan can tap their large markets. He highlighted that Japan has strong government and highly educated citizens having strong work ethics. Japan holds one of the highest fishing fleetest and accounts for 15% of the global catch.

H.E. Akinori Wada, Consul General of Japan in his speech, highlighted that Pakistan and Japan had old friendly relations for economic cooperation. He informed that literacy rate in Japan was 99% and they believed in educational enlightenment to excel as a nation. He said that Pak-Japan bilateral trade was facing imbalance however, JETRO and Pakistan-Japan Business Forum were actively pursing for enhancement of bilateral trade. He appreciated that Pakistan was acting as a bridge to join Central Asian, South Asian and Middle East Countries. He said that Japan appreciates the efforts of Pakistan in War against terror. He said that in the Pakistan Donors' Conference, Japan had pledged 1 million USD and 33.5 million USD as Emergency Grant for the Internally Displaced People. He said that Government of Japan has also planed to cooperate with the Pakistani Government for the resettlement of Internally Displaced People. He informed that in year 2008, Pak-Japan bilateral trade was 1.96 billion USD out of which Japanese exports were 1.5 billion USD and imports were 0.4 billion USD. He said that in Pakistan there was a great demand of Japanese Automobiles and its share in Japanese exports to Pakistan was 75%. To enhance Pakistani exports to Japan, he suggested that Pakistan Businessmen should explore and identify new products. He said that Japanese were quality conscious and health-conscious people therefore, Pakistanis exporters should focus on quality products for exports.

H.E. Akinori Wada, Consul General of Japan, to attract the Japanese Investment in Pakistan, focused to streamline the safety and security measures and improve upon law & order situation in Pakistan. He asserted to improve the perception of Pakistan in the globe to attract the Foreign Direct Investment (FDI). He was of the view that Japanese Government cannot force its business community to invest in Pakistan, to attract the attention of Japanese investors the assurance of their security and safety is mandatory. Governments' persistent and long-term policies and improved infrastructure are also essential to attract FDI. He said that Japanese are fond of tourism and a great number of Japanese come to Pakistan for touring the historical place and beauty of northern areas of Pakistan, to increase the number of tourists, Pakistani Government must ensure adequate security and safety measures. Answering to a question, Consul General of Japan replied that presently 40 Japanese companies were operating in Karachi and above 400 Japanese citizens were residing in Karachi being engaged with various Japanese Projects.