ISLAMABAD: President Dr Arif Alvi has stated there’s a must discover new avenues of cooperation between Pakistan and Korea for additional enhancing bilateral commerce and funding.
“Non-public sectors of the 2 nations ought to discover new avenues to reinforce commerce and funding between the 2 nations. The present quantity of bilateral commerce at US$1.935 billion is way under the 2 nations’ potential. Specializing in bilateral diversification of services and products and organising achievable targets, this quantity can simply be taken to US$6 billion in a couple of years.
“Pakistan is desirous of increasing bilateral cooperation with Korea in varied fields, equivalent to agriculture, ICT, Human Useful resource Improvement, economic system, science, tradition and training,” the president stated.
He made the remarks whereas speaking to the members of the Korea-Pakistan Parliamentary Friendship Group within the Nationwide Meeting of the Republic of Korea, led by its head Lee Hack Younger, on the Aiwan-e-Sadr on Wednesday.
Members of Parliament, Lee Sangheon, Kim Byungjoo, An Byunggil, and Ambassador of the Republic of Korea, Suh Sangpyo, attended the assembly.
The President urged each the nations to take obligatory steps to reinforce bilateral consultations for the signing of a mutually agreed upon Free Commerce Settlement which would supply a wonderful framework for selling bilateral commerce, funding and enterprise relations.
He stated that the change of Parliamentary Friendship Teams between Pakistan and the Republic of Korea would carry the 2 nations nearer and additional promote cooperation between the parliaments of each nations. He additionally emphasised the necessity to develop the multidimensional relations between Pakistan and Korea to their fullest potential.
Speaking to the parliamentary delegation, the President highlighted that Pakistan possessed an unlimited youth bulge which, if correctly educated and skilled, may present much-needed certified and cost-competitive human sources to Korean corporations that had a presence in Pakistan and assist meet the rising wants of the Korean economic system and trade.
He stated that Korea may assist Pakistan carry huge virgin lands in Balochistan and Khyber Pakhtunkhwa below cultivation and considerably enhance the yield of agricultural merchandise of the fertile plains of Sindh and Punjab by means of joint analysis and improvement, ICT-based fashionable agriculture applied sciences, higher disease-resistant seeds, vertical farming and Synthetic Intelligence primarily based irrigation system.
The President stated that Korea had been successfully contributing to the financial improvement of Pakistan and had made sizable investments in lots of sectors, particularly within the car and mobile manufacturing sectors. He stated that each the nations wanted to proceed mutual consultations and deliberations to search out methods and means to take current cooperation to the following stage. He additionally emphasised discovering out the probabilities of the better position of Korean corporations within the CPEC initiatives and their funding within the Particular Financial Zones. He assured the delegation that Korean funding in Pakistan was secure and that Pakistan was dedicated to persevering with the funding and commerce insurance policies no matter change within the authorities to offer a secure and safe atmosphere to overseas buyers.
Copyright Enterprise Recorder, 2022