ISLAMABAD (Online) - South Korean Ambassador in Pakistan Choi Choong-Jee on Friday said Pakistan’s economy is showing clear signs of recovery that calls for enhanced trade between the two countries. He said that Pakistani business community is strong enough to withstand all challenges and has a very favourable view for South Koreans but it is not translating into actual trade potential between the two countries.
Speaking at a reception hosted at his residence in honour of national trade leaders, the Ambassador said that our trade with India stands at $16 billion which will be doubled in few years; it is $ 1billion a day with China while bilateral trade with Pakistan is mere $1.1 billion.
“My country wants to enhance cooperation with Pakistan’s government and private sector so that economy of this great nation can come out of problems like energy deficiency and emerge as one of our major trading partners,” he added.
Choi Choong-Jee said that Pakistan has great resources and tremendous potential while we rely only on technology. Nothing can stop Pakistan from becoming a developed nation if it adopts few corrective measures, he said.
“I see business community of Pakistan as driving force for economic vitality,” said Jee.
On the occasion, Tariq Sayeed, vice president CACCI and former president FPCCI and SAARC CCI, said that current volume of bilateral trade does not reflect the cordial relations between the two nations.
He said that 23 companies of South Korea are working in Pakistan and we have $443 million of trade deficit which is not significant.
Senator Haji Ghulam Ali, President FPCCI, said that we should identify hitches barring trade and expressed resolve to contribute towards enhanced cooperation.
He said that the non-availability of proper information is one of the hurdles that need to be addressed urgently.
Speaking on the occasion, Iftikhar Ali Malik, VP Saarc CCI, said that business community should develop linkages with Koreans and start sharing. He said that we could benefit from promising SME sector of the friendly country.
He assured support in establishing contacts between business chambers of the two countries and promised to explore Korean automobiles, pharmaceutical, textiles, machinery and other relevant sectors.
Iftikhar Ali Malik welcomed the recent investment by South Korean companies in Pakistan, saying that sectors like oil and gas, mining, energy, IT, telecom, food, agriculture, beverages, transport and tourism offer great opportunities to foreign investors.
Malik Sohail Hussain said that we should boost exchange of delegations and organise trade fairs to promote products and encourage investments.
Others present at the reception included VPs FPCCI, Aamir Atta Bajwa, Akbar Khan, Fazl Elahi, Capital Office officials Hameed Akhtar Chadda, Raza Khan, President Women’s Chamber Samina Fazil, Sec. Gen Saarc CCI Iqbal Tabish, President Jehlum Chamber Sheikh Muhammad Iqbal, President Tribal Chamber Fayaz Ali,VP Attock Chamber Tariq Mahmood, Chairman Marble Association Shahid ur Rehman, Anayat Mirza and Sheikh Muhammad Iqbal.
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