Latest news with #JamKamal
Arab News
5 days ago
- Business
- Arab News
Pakistan invites Japan to join mineral sector drive through joint ventures, value addition
ISLAMABAD: Pakistan has invited Japan to invest in its minerals sector through joint ventures focused on exploration, processing and value addition, with commerce minister, Jam Kamal, holding high-level meetings in Tokyo this week, the government said in a statement on Thursday. The outreach is part of Pakistan's broader push to attract foreign investment and strengthen its struggling economy. Islamabad has prioritized mining and minerals as a key sector for economic diversification, and is seeking Japanese collaboration to unlock its untapped resource potential while aligning with Tokyo's industrial needs. 'Our mineral sector remains largely underexplored,' Kamal said during meetings with officials from the Japan International Cooperation Agency (JICA), the Japan External Trade Organization (JETRO) and the Japan–Pakistan Business Cooperation Committee (JPBCC). 'We are offering Japanese partners the opportunity to participate in high-value ventures that can help build sustainable supply chains for critical minerals,' he added. The minister highlighted reserves of rare earth elements like copper, gold and other industrial minerals, positioning Pakistan as a strategic destination for resource-based cooperation. He emphasized Pakistan's openness to technology transfer, public-private partnerships and long-term frameworks that support mutual gains. In his conversation with JICA's Senior Vice President HARA Shohei, Kamal underlined the importance of aligning future development cooperation with Pakistan's industrial modernization and export-oriented growth. He acknowledged Japan's long-standing contribution of over $11 billion in areas such as energy, transport and vocational training, and called for expanded technical assistance in mineral logistics, industrial clusters and green technologies. Meeting JETRO President Susumu Kataoka and Executive Vice President Kazuya Nakajo, the minister urged greater Japanese investment in Pakistan's Special Economic Zones and export-oriented sectors. He called on JETRO to promote Pakistan's mineral sector to Japanese industry through seminars, business-to-business (B2B) outreach, and participation in trade exhibitions. At a luncheon hosted by JPBCC, Kamal encouraged deeper B2B ties and sought active Japanese input for the upcoming Pakistan-Japan Business Dialogue. 'Our doors are open,' he said. 'We see Japan not only as a partner but as a catalyst for transforming Pakistan's economic base. With your advanced technology and our resource potential, we can build future-proof industries together.' Pakistan has in recent years stepped up its diplomatic engagement with key economic partners to promote sectors such as information technology, light engineering and mineral development. The Tokyo visit marks a fresh attempt to align its resource-led ambitions with Japan's technological strengths and global supply chain priorities.
Express Tribune
26-05-2025
- Business
- Express Tribune
Jam Kamal kicks off Japan visit to boost ties
Federal Minister for Commerce Jam Kamal Khan arrived in Japan on Monday, marking the start of a high-level official visit aimed at strengthening economic, trade and investment relations between Pakistan and Japan. The minister was received at the Kansai International Airport by Pakistan's economic minister, the director of Pakistan Pavilion Expo 2025 and the trade and investment counsellor, according to a press release issued by the commerce ministry. On Tuesday, the federal minister will lead Pakistan's representation at the 2025 World Expo in Osaka, beginning with a meeting with the leadership of the Japan Association for the 2025 World Exposition. Following the meeting, he will tour various national pavilions, with a special visit to the Pakistan pavilion, where he is expected to interact with officials and stakeholders promoting Pakistan's culture, investment potential and trade opportunities. The Pakistan pavilion showcases the country's emerging sectors, traditional crafts, tourism attractions and industrial strengths. The minister will also visit the pavilions of key regional and global partners. Jam Kamal is scheduled to address a press conference and attend a diplomatic dinner at the Expo Salon as well as engage in bilateral discussions with Japanese officials and business representatives. The federal minister's visit is expected to pave the way for deeper economic collaboration, new trade linkages and increased visibility of Pakistan's potential at international forums.
Arab News
23-05-2025
- Business
- Arab News
Pakistan to offer US firms concessions on mining investment in tariff talks, says minister
ISLAMABAD: Pakistan plans to offer concessions to US companies to invest in its mining sector as part of negotiations with Washington over tariffs, its commerce minister told Reuters, as Islamabad seeks to capitalize on the Trump administration's interest in boosting trade with South Asia. Pakistan faces a potential 29 percent tariff on exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Tariffs were subsequently suspended for 90 days so negotiations could take place. Pakistan's Commerce Minister Jam Kamal said that Islamabad will offer US businesses opportunities to invest in mining projects primarily in Pakistan's Balochistan province through joint ventures with local companies, providing concessions like lease grants. The minister said that would be in addition to efforts to increase imports from the United States, particularly cotton and edible oils, which are currently in short supply in Pakistan. Pakistan would put its offer of concessions for mining investment to US officials during talks over tariffs in the coming weeks. Kamal did not give further information on the bidding process of these mines or other details. 'There is untapped potential for US companies in Pakistan, from mining machinery to hydrocarbon ventures,' he said in an interview with Reuters conducted on Thursday. Pakistan's Reko Diq copper and gold mining project in Balochistan seeks up to $2 billion in financing, including $500 million to $1 billion from the US Export-Import Bank, with term sheets expected by early in the third quarter of this year, its project director told Reuters last month. The mine could generate $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. US President Donald Trump has said that he's working on 'big deals' with both India and Pakistan, following Washington's key role in brokering a ceasefire between Pakistan and India earlier this month following the worst fighting in decades between the nuclear-armed neighbors. 'The previous US administration focused more on India, but Pakistan is now being recognized as a serious trade partner,' Kamal said. Pakistan will gradually lower tariffs in its upcoming federal budget, Kamal said. He said that the United States has not specified trade barriers or priority sectors. The US Embassy in Islamabad did not immediately respond to a request for comment.
Zawya
23-05-2025
- Business
- Zawya
Pakistan to offer US firms concessions on mining investment in tariff talks, says minister
ISLAMABAD - Pakistan plans to offer concessions to U.S. companies to invest in its mining sector as part of negotiations with Washington over tariffs, its commerce minister told Reuters, as Islamabad seeks to capitalize on the Trump administration's interest in boosting trade with South Asia. Pakistan faces a potential 29% tariff on exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Tariffs were subsequently suspended for 90 days so negotiations could take place. Pakistan's Commerce Minister Jam Kamal said that Islamabad will offer U.S. businesses opportunities to invest in mining projects primarily in Pakistan's Balochistan province through joint ventures with local companies, providing concessions like lease grants. The minister said that would be in addition to efforts to increase imports from the United States, particularly cotton and edible oils, which are currently in short supply in Pakistan. Pakistan would put its offer of concessions for mining investment to U.S. officials during talks over tariffs in the coming weeks. Kamal did not give further information on the bidding process of these mines or other details. "There is untapped potential for U.S. companies in Pakistan, from mining machinery to hydrocarbon ventures," he said in an interview with Reuters conducted on Thursday. Pakistan's Reko Diq copper and gold mining project in Balochistan seeks up to $2 billion in financing, including $500 million to $1 billion from the U.S. Export-Import Bank, with term sheets expected by early in the third quarter of this year, its project director told Reuters last month. The mine could generate $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. U.S. President Donald Trump has said that he's working on "big deals" with both India and Pakistan, following Washington's key role in brokering a ceasefire between Pakistan and India earlier this month following the worst fighting in decades between the nuclear-armed neighbours. "The previous U.S. administration focused more on India, but Pakistan is now being recognised as a serious trade partner," Kamal said. Pakistan will gradually lower tariffs in its upcoming federal budget, Kamal said. He said that the United States has not specified trade barriers or priority sectors. The U.S. Embassy in Islamabad did not immediately respond to a request for comment. (Reporting by Ariba Shahid; Editing by Susan Fenton)
Reuters
23-05-2025
- Business
- Reuters
Pakistan to offer US firms concessions on mining investment in tariff talks, says minister
ISLAMABAD, May 23 (Reuters) - Pakistan plans to offer concessions to U.S. companies to invest in its mining sector as part of negotiations with Washington over tariffs, its commerce minister told Reuters, as Islamabad seeks to capitalize on the Trump administration's interest in boosting trade with South Asia. Pakistan faces a potential 29% tariff on exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Tariffs were subsequently suspended for 90 days so negotiations could take place. Pakistan's Commerce Minister Jam Kamal said that Islamabad will offer U.S. businesses opportunities to invest in mining projects primarily in Pakistan's Balochistan province through joint ventures with local companies, providing concessions like lease grants. The minister said that would be in addition to efforts to increase imports from the United States, particularly cotton and edible oils, which are currently in short supply in Pakistan. Pakistan would put its offer of concessions for mining investment to U.S. officials during talks over tariffs in the coming weeks. Kamal did not give further information on the bidding process of these mines or other details. "There is untapped potential for U.S. companies in Pakistan, from mining machinery to hydrocarbon ventures," he said in an interview with Reuters conducted on Thursday. Pakistan's Reko Diq copper and gold mining project in Balochistan seeks up to $2 billion in financing, including $500 million to $1 billion from the U.S. Export-Import Bank, with term sheets expected by early in the third quarter of this year, its project director told Reuters last month. The mine could generate $70 billion in free cash flow and $90 billion in operating cash flow over its lifespan. U.S. President Donald Trump has said that he's working on "big deals" with both India and Pakistan, following Washington's key role in brokering a ceasefire between Pakistan and India earlier this month following the worst fighting in decades between the nuclear-armed neighbours. "The previous U.S. administration focused more on India, but Pakistan is now being recognised as a serious trade partner," Kamal said. Pakistan will gradually lower tariffs in its upcoming federal budget, Kamal said. He said that the United States has not specified trade barriers or priority sectors. The U.S. Embassy in Islamabad did not immediately respond to a request for comment.
