Pakistan, Japan to further expand economic cooperation

April 15, 2021: His Excellency Mr. Kuninori Matsuda, the Ambassador of Japan called on the Federal Minister for Finance, Revenue, Industries and Production, Muhammad Hammad Azhar, at the Finance Division today. Mr. Ishii Kensuke, Commercial Counsellor and Ms. Soma Mayuko, Second Secretary also accompanied H.E. Ambassador on the occasion.

While extending a warm welcome to H.E. Mr. Kuninori Matsuda, the Finance Minister stated that Pakistan and Japan have enjoyed cordial and friendly relations over the years and this relationship will continue to become even stronger with every passing day. The Finance Minister appreciated the support extended by the Government of Japan for infrastructural and institutional development in Pakistan. Japan is a major development partner of Pakistan, he added.

The Finance Minister and the Japanese Ambassador discussed issues of mutual interest. The Finance Minister underlined the initiatives taken by the Government which led to economic turnaround. Pakistan’s primary deficit has been converted into a surplus due to strict adherence to fiscal discipline. Pakistan’s fiscal response to COVID-19 has been prudent and well-targeted, including re-allocation of spending to the most vulnerable segments through the landmark Ehsaas program.

His Excellency Ambassador of Japan said that Japan greatly values its bilateral relations with Pakistan. He briefed the Finance Minister about operations of the Japanese entities in Pakistan and expressed confidence that business and economic linkages would further strengthen between the two countries. Both reviewed the spectrum of business and investment relations and identified areas for further strengthening and expanding economic cooperation.

The Finance Minister lauded the valuable investment by Japan in various sectors particularly in the automobile sector and affirmed to facilitate Japanese investors and businessmen for undertaking major investment initiatives amid rising demand for innovative business products and services in Pakistan. He also commended the contribution of the Japan International Cooperation Agency (JICA) for socio-economic development and reform initiatives aimed at poverty reduction & human development in the country.

The Finance Minister thanked H.E. Kuninori Matsuda for his efforts in furthering Pakistan-Japan relations, on the occasion.

Press Release