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Japan to increase investment
in Pakistan
Tariq Khattak
Islamabad—Japan and Pakistan held in-depth deliberations to increase
the bilateral cooperation, especially Japanese assistance to
Pakistan . The two sides also discussed ways and means to encourage
Japanese investment in the country. Seiji Kojima, Ambassador of
Japan in a meeting with Senator Ishaq Dar, Finance Minister here
this afternoon reviewed overall economic cooperation, discussed ODA
assistance, Grant assistance, Non-project grant assistance and the
role of JICA for bridging the gap between the two peoples.
The two sides also discussed high level policy dialogue 2008 in
Tokyo , and forthcoming deliberation on Aid and its Effectiveness at
Accra Forum and Japan ’s role as a leading development partner of
Asian countries. Pakistan appreciated Japan ’s non-project grant
assistance of US $ 6 million for the development of FATA. Japan has
indicated ODA assistance of US $ 478 million for the year 2007-08.
The two sides agreed that at mutually convenient dates both would
sign and Exchange the Notes and identify projects to be financed
under this facility.
Finalization of US $ 92.6 million Grant Assistance for seven new
projects was also discussed. The role of JICA in promoting
cooperation to engage Japanese experts and volunteers was
emphasized. JICA, it was observed has played an important role in
human resource development through capacity building courses. It was
hoped that the JICA would help Pakistan to meet its training needs
for capacity building, research to increase out put in agriculture,
livestock, fisheries, biotechnology, horticulture and seafood.
Pakistan sought Japanese assistance to increase ODA volume over the
medium term, diversify economic assistance, explore new areas of
cooperation including renewable energy. Pakistan also evinced
interest in charting new country assistance strategy and enhanced
Japanese support for human development projects.
It may be recalled that since 1961, cumulative Japanese assistance
to Pakistan comes to around US $ 5.7 billion. Its annual assistance
averages to US $ 200 million inclusive of grant and loans. Senator
Dar emphasized the need for economic dialogue between the private
sectors of the two countries and hoped that bilateral trade would
increase.
He also shared Pakistan ’s financial and economic performance and
his deliberations with IMF sand World Bank during the recent Spring
Meetings in Washington . He hoped that Japan as one of the major
development partners would increase its bilateral assistance to
facilitate its economic growth.
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