Ambassador Farukh Amil (فاروق عامل) alongwith his trade and economic team visited Toyota City, Aichi Prefecture, and met Mr. Yasumori Ihara, Executive Vice President (EVP) and Member of Board Toyota Motor Corporation and senior Executives including Mr. Kyoichi Tanada Managing Officer of the company.
The Ambassador highlighted that follows the smooth democratic transition of the Government, the Prime Minister as an experienced businessman with a clear economic vision had enacted policies which augured well for economic stability. The Ambassador expressed the hope that Toyota would increase indigenization in the production of its vehicles in Pakistan. He also urged the EVP to pursue localization of the production of components for the industry. The Prime Minister had outlined a programme of infrastructural expansion including the motorway network. Demand for road transportation would consequently grow. The Ambassador also proposed the EVP to invest in human resource development in Pakistan, a country nearing 200 million in population with large domestic and adjacent regional markets. Specifically he urged Toyota to consider Japan-based internships for Pakistani youth.
Mr. Ihara thanked the Ambassador visiting Toyota City, assured his company’s support for Pakistan and agreed that Japanese technological know-how and education should be imparted to Pakistani youth. He agreed that Asia and the Pacific Rim offered the greatest potential for 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 explained that their management philosophy was different from their competitors I.e. “build cars where needed”. They believed in the highest possible localization and manufacturing of the customized products as compared to simple assembling. He thanked the Government of Pakistan for the initiatives taken in the recent budget for stabilizing the domestic production of automobiles and shared their vision about Pakistan as an emerging market where political stability is leading to economic maturity and growth.
