Lahore: A high-level Japanese business delegation, led by Hideo Horiguchi, visited the Lahore Chamber of Commerce and Industry (LCCI) this Wednesday to discuss potential enhancements in bilateral trade and investment with Pakistan. The delegation, focusing on sectors like heavy industries and technology, was warmly received by LCCI Senior Vice President Zafar Mahmood Chaudhry and members of the Executive Committee.

According to Lahore Chamber of Commerce and Industry, Zafar Mahmood Chaudhry in his welcome address emphasized the robust, long-standing relations between Pakistan and Japan, which have supported mutual industrial and technological advancement. He highlighted that the current bilateral trade stands at $1.19 billion, with potential to escalate to at least $5 billion through increased cooperation.

Chaudhry detailed the composition of the delegation, which includes leaders from diverse sectors such as chemical plants, automotive, and equipment manufacturing, indicating strong prospects for future joint ventures. He suggested that areas such as renewable energy, infrastructure, healthcare, and education hold vast potential for collaboration, enhancing the economic landscape of both nations.

The visit also served as an opportunity for the Japanese delegates to express their readiness to explore joint ventures, especially in emerging sectors highlighted by the Pakistani side. The delegates recognized the conducive business environment in Pakistan, underscored by incentives such as tax exemptions and duty-free imports for foreign investors, facilitated by Special Economic Zones and the Special Investment Facilitation Council.

The event underscores a mutual desire to deepen economic ties and explore new avenues for partnership that could significantly benefit both countries’ economies.