ISLAMABAD, Monday, May 05, 2025 (WNP): Federal Minister for Commerce Jam Kamal Khan on Monday held a high-level meeting with Japanese Ambassador Akamatsu Shuichi focusing on expanding bilateral trade and addressing longstanding tariff imbalances in a renewed effort to deepen economic engagement.

During the meeting, Minister Kamal proposed the establishment of a dedicated Pakistan–Japan Business Forum to provide a structured platform for commercial cooperation. He emphasized the urgent need to rebalance trade ties, highlighting Pakistan’s underperformance in exports to Japan.

“Pakistan’s exports to Japan have remained stagnant and disproportionately low compared to imports,” the minister noted. In fiscal year 2023–24, bilateral trade between the two nations reached $1.33 billion, but Pakistan exported only $194 million worth of goods, while importing $1.137 billion from Japan.

Commerce Secretary Jawad Paul reinforced the call for a Preferential Trade Agreement (PTA) between the two countries, arguing that such a pact would address asymmetrical tariffs and enhance market access for Pakistani goods.

“Pakistan faces higher tariff barriers than its regional competitors,” Secretary Paul said, citing that under Japan’s Generalized System of Preferences (GSP), Pakistani textile exports face an average tariff of 5.36%, while leather goods are subject to tariffs averaging 16% under Tariff Rate Quotas (TRQs).

Ambassador Akamatsu welcomed the proposal for the business forum and acknowledged the tariff-related concerns raised by Pakistan. He assured that these issues would be taken up through appropriate diplomatic and economic channels and reiterated Japan’s commitment to strengthening trade and investment ties with Pakistan.

Minister Kamal also urged Japan to facilitate multiple-entry business visas to enhance commercial travel and encouraged Japanese investors to explore high-potential sectors in Pakistan, including textiles, leather, surgical instruments, and seafood.

He further highlighted the international recognition received by Pakistan’s pavilion at Osaka Expo 2025, where the country is participating in a Type-C format, drawing considerable global attention.

As part of continued engagement, Prime Minister Shehbaz Sharif is also scheduled to host a meeting with the Japanese Ambassador and representatives of leading Japanese companies to explore new avenues for trade and investment cooperation.

This high-level interaction marks Pakistan’s strategic push to diversify its export destinations, improve market access, and secure fairer trade arrangements with key global partners such as Japan.