Tokyo: Pakistan’s newly appointed ambassador to Japan, Asad Majid on Tuesday disclosed that Ajinomoto Co Inc has shown inclination to expand its investment footprint in the country.
This development comes amidst a rise in demand of halal-certified seasonings, which Ajinomoto is keen to capitalize on, the envoy shared. As per Majid, the products of Ajinomoto are already being sold in Pakistan through a joint-venture and the Japanese entity is said to hold majority shareholding in it.
He added that alongside Ajinomoto, Pak-Suzuki motors has decided to double its investment in the country. Majid also shared that Japan’s exports to Pakistan were recorded at $1.8b during 2016 in comparison to Pakistan whose exports to the country stood at a paltry $200m in the aforementioned period.
Acknowledging this trade-gap between the two countries, Majid said Pakistan was trying its best to reduce it and the bilateral trade stood much lower than its real potential.
He divulged that Japanese government had suggested the government to sign a free-trade agreement and was keen to increase its cooperation in textile and technology sectors of the country.