Subject: Meeting with CEO Fast Retailing Co., Ltd./UNIQLO
Tokyo – Ambassador Farukh Amil (عامل فاروق) along with the trade and economic team of the Embassy visited Fast Retailing Co. Ltd to meet the Chairman and CEO Mr. Tadashi Yanai and senior executives of the company. The Ambassador congratulated them on successful year of 2013 with total annual net sales of the company reaching for the first time to 1 Trillion Yen. In the meeting the Ambassador underlined the new Government’s focus on rebuilding the economy and attracting investments for jump starting growth. He assured that Pakistan was on a positive trajectory of growth and development and as always, valued highly the seventy six Japanese companies already operating there and warmly welcomed new ones to join in to benefit given the huge domestic and neighbouring markets. In order to help Pakistan create jobs for young population, he requested his support for duty concession for Pakistani textile products on the lines according by the EU. He requested Chairman Fast Retailing Co Ltd to join the delegation planned to visit Pakistan for the Joint Business to Business dialogue in April 2014. He further stressed the need to seriously consider Pakistan as an alternate for sourcing under Japan’s Asian diversification strategy.
Mr. Yanai thanked the Ambassador for visiting Fast Retailing Co Ltd and informed that of all the international markets, they believed that Asia and the Pacific Rim offered the greatest potential. As the core of future global economic development, this region is expected to witness a rapid expansion in its middle-income population and a consequent explosion in consumption. He expressed keen interest in Pakistan in the near future and said that the briefing by the Ambassador was very informative and he would now like to have detailed information about the textile industry of Pakistan. Sharing the new investment plan of the company he said Pakistan could be a potential sourcing country of raw material for their latest venture. He assured support for the upcoming Pakistan Japan Business Forum (PJBF) delegation visit to Tokyo and the Joint Business Dialogue in Islamabad.