ISLAMABAD: Pakistan and Japan have agreed to enhance cooperation in industrial sector especially modernization of local engineering industry.

The understanding was reached during a meeting between Minister for Industries and Production, Makhdoom Khusro Bakhtyar and newly appointed Ambassador of Japan to Pakistan Wada Mitsuhiro here on Friday. The two sides decided to extend existing Small and Medium Enterprises, mobile manufacturing policies and improved ease-of – doing-business steps taken by government of Pakistan for industrial sector.

The Minister discussed the business opportunities for Japanese Automobiles companies under framework of new automobile policy focusing on localization and making the auto sector export-oriented. He said these steps would revolutionize the automobile industry of Pakistan by connecting it to global supply chain and distribution channels.

The Minister also informed the ambassador on Mobile Device Manufacturing Policy. He said Pakistan’s existing economic environment provides excellent opportunity for Japanese companies to investment in mobile phone manufacturing.