KARACHI - Japanese Consul General Akinori Wada has said that the cordial ties between Japan and Pakistan have been strengthening since diplomatic relations established in April 1952. During the last five decades Japan has been one of the major trade partners of Pakistan. He was addressing the members of SITE Association of Industry here on Saturday. Akinori apprised the participants that Pak-Japan relations, multidimensional in nature and character, have grown rapidly over the years in different fields and diverse sectors. Major sectors of investment of Japanese are automobiles including motorcycle and related sectors. Other sector include leasing, investment bank and power projects. Various Japanese groups including Mitsubishi Heavy Industry and Toyota Tsusho Corporation have shown interest to set up power plants in Pakistan under the new energy policy. Later on the Japanese government did not take much interest probably because of the frequent change of governments in Pakistan in last two decades in apprehension of inconsistency in continuation of policies. On pinpointing the imbalance of trade between Pakistan, the Japanese Consul General said that the figures depicted in the record is incorrect and Pakistan has made export of more than 139.43 million US$ in 2007-08. We should not be disheartened by low value performance by Pakistan but as new venues and sectors are opening and Pakistani businessmen can avail these opportunities to expand their business with Japan. Engr MA Jabbar welcoming the chief guest presented a brief introduction of the SITE association, saying it is the oldest and the biggest in terms of its GDP share in the economy of Karachi representing more than 3,000 industries housed in SITE industrial area in Zone West, Karachi. Karachi has remained hub of industrial activities. In 1980-90 Karachi was on its height, producing goods of major worth for industrial economy of Pakistan contributing three quarters of the revenue for Pakistan. He added to say that presently Karachi is showing downward trend of share in Federal Taxes which is coming close to 50 percent of the federal revenue. He said that this is because of shifting of industries from Karachi due to Law & Order deterioration history since the last 2 decades. He said that GDP of Karachi also has a fall, which is now quarter of a hundred. He said that still the natural reasons of best location this city is providing more than three quarters of custom duty and sales tax at import stage. He added to say that SITE Karachi still has a reasonable good share in the exports of textile as a single entity industrial estate. Engr. Jabbar on a point of information said that Japanese Government representative may note that to understand the political economy, the politics of a country can not be isolated as it drives and guides the economic policy and fixes the directions for growth of industry in the country. He added to say that Karachi is further being de-rated for investments due to momentum of disturbances created during the last one year on account of frequent strike calls by political parties disturbing the working of industry. He said that this is also depriving the country from the GDP share. The revenue of the city including from the biggest industrial estate is also falling. He told the Consul General of Japan that SITE area alone was providing employment to more than half million people up to year and last but now this figures has come down due to power outages in specific affecting labour intensive small industries. He apprised the Consul General that the research exposes the figure of 100,000 workers having lost their jobs due to power outages compounded by forced holidays, the exact number needs to be researched, which may be more as the labour intensive small industry is adversely affected. He said that statistics show that Pakistan has about one fourth of 1 percent shares in the economy of Japan. He added that in comparison of China and Korea the Japanese products are much superior quality wise and we were purchasing them with close eyes. Now the scenario has changed perhaps due to slackness on the part of diplomatic missions of Japan to create awareness for the premium price to be paid for Japanese goods by consumers in proportion to the quality of the life of Japan origin product against other origins.