Pakistan exported goods worth US$50.6 million to Japan during the first quarter (Q1) of the current fiscal year (2021-2), witnessing an increase of 24.21 percent over the merchandise exports of the corresponding period of last year.
According to a press statement received here from the Embassy of Pakistan in Tokyo, other than textile items, the major exports to Japan during July-September (2021-22) included agricultural and food products.
This indicates the realization of the export diversification strategy the Embassy of Pakistan in Tokyo has been pursuing for the past two years, the statement added.
This trend is expected to gain further momentum once Covid-19 pandemic-related logistical limitations start getting settled.
Read more: Japan and Pakistan sign $370 debt relief pacts
Under our #EconomicDiplomacy focus, good to meet Japanese Ambassador to Pakistan, H.E
Kuninori Matsuda. Pleased to share our exports to #Japan have continued to rise despite #Covid19. Welcome car giant Toyota’s investment of USD 100M in 🇵🇰 towards production of hybrid vehicles. pic.twitter.com/5MpOkm4K3V— Shah Mahmood Qureshi (@SMQureshiPTI) October 4, 2021
The statement added that achieving US$50.6 million exports during Q1 against US$ 41.1 million last year, despite a large set of challenges facing international trade due to the pandemic, was mainly due to better awareness of Pakistani products in Japan.
The awareness was created through an aggressive campaign of reaching out to Japanese companies and supply chains; improved compliance of standard requirements on the supply side; and, an experience-based increasing interest, acceptance, and confidence of Japanese buyers in Pakistani products, added.
Boosting economic relations between Pakistan and Japan
Pakistan’s Trade Mission in Japan has been able to stand out during the recent years with a presence at all major trade shows in absence of participation by exporters due to travel restrictions; presenting options of business with Pakistan to regional business chambers and trade associations; engaging the public through social media and promotion activities to create ownership; and, encouraging Pakistani business community in Japan to engage in Pakistan focused trade.
Rice, sesame seed, fish fillet, mangoes, dates, and cotton yarn are the leading products driving this growth.
Read more: Japan eager to import famous Pakistani exports like mangoes, rice, and textiles
Other significant exportable items showing an increasing trend include sports equipment, surgical instruments, animal casing, chromium ore, carpets, gloves, socks, and tanned leather.
According to the trade data updated by the Ministry of Commerce, the overall global export of Pakistan has been showing a consistent growth trend during the first quarter, and exports to Japan are following the same trend.
To sustain this positive trade trajectory with Japan, the Pakistani Mission has been executing product and sector-specific promotional campaigns in collaboration with the Trade Development Authority of Pakistan (TDAP) through a series of webinars, tasting events, and virtual B2B meetings for Pakistani exporters.
Among the recent activities hosted at the Embassy of Pakistan in Tokyo focused on dates, salt, mangoes, surgical instruments, handicrafts, and furniture.
Read more: Japan and UNDP launch $3.9 million youth empowerment project in Pakistan
During the second quarter, in addition to promoting a diverse range of exportable products, efforts will also be made to increase export of services from Pakistan to Japan mainly covering information technology and consulting services; and, export of manpower – both unskilled and skilled workforce, for which demand is increasing in Japan.
Courtesy: APP