Japan, Pakistan discuss establishing technology upgradation fund

ISLAMABAD: Japan and Pakistan are exploring the option of establishing technology upgradation fund that can be important in strengthening the manufacturing base of the country.

Charge d’ Affaires Embassy of Japan called on Advisor to the Prime Minister on Commerce Abdul Razak Dawood here in Ministry of Commerce. The issues pertaining to bilateral trade and investment were discussed.

The options of technology upgradation fund that could be used for upgradation of textile machinery in Pakistan also came under discussion, Press Information Department PID reported.

Japan has informally expressed it’s dismay over the increasing business influence in Pakistan. An analyst said Japan is concerned over the incentives offered to China under “CPEC” as compared to Japanese industry, which is heavily invested in Pakistan way before the CPEC was even conceived.

Establishing the technology upgradation fund may be an opportunity for Japan to keep its clout in Pakistan.

Adviser to the Prime Minister on Commerce emphasized over the need to improve the existing infrastructure of the fisheries sector of Pakistan including the improvement of fish harbor at Karachi. Both sides explored the option of establishing technology upgradation fund that can be important in strengthening the manufacturing base of the country.

The progress on the decisions of Pak-Japan Business Dialogue held in December 2018 in Japan was also reviewed. Moreover, the modalities and agenda of the upcoming session of the business dialogue also came under discussion.

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