Ambassador of the Republic of Korea Suh Sangpyo has expressed his desire to sign a Free Trade Agreement (FTA) with Pakistan, saying that a FTA is essential for the promotion of bilateral trade, so that the business community of both the countries can take advantage of the opportunities available in each other’s countries and promote mutual trade and investment.
He made the remarks during a meeting with Sohail Nisar, Chairman, Pakistan-Korea Business Council FPCCI, in Islamabad to discuss trade relations and finding new trade routes. Korean Ambassador further said that for a FTA, it was necessary for the Pakistani business community to request its government to continue talks with the Korean government in this regard, so that the Korean embassy can play its role. “The business community of the two countries should show interest in the joint venture and make joint efforts to boost bilateral trade with Pakistan in various sectors of the economy”, the Ambassador urged.
Korean Ambassador also suggested business-to-business meetings, exchange of high-level trade delegations and bilateral exhibitions, and was assured by the Korean embassy of his full support. Sohail Nisar, Chairman, Pakistan-Korea Business Council FPCCI, briefed the Ambassador in detail about various areas related to bilateral trade in Pakistan and said that Pakistan is an attractive country in terms of trade and investment, which provides excellent and profitable business opportunities to foreign investors and traders. Therefore, Korean businessmen and investors must take advantage of these opportunities.
“Business community of the both countries should increase interaction with each other and explore what items can be traded for increasing the bilateral trade between Pakistan and Korea, which will be beneficial and economic prosperity for both countries”, he added.
Sohail endorsed the Korean Ambassador’s proposals for B-to-B meetings, exhibitions and exchange of trade delegations, saying that their implementation would definitely increase the trade volume between Pakistan and Korea, and will boost exports also. Pakistan can also benefit from expertise in technology. He also invited the Korean Ambassador to visit the FPCCI, which he accepted and assured that he would visit the FPCCI Karachi head office soon.