Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 7 hours, 13 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
Pakistan to enhance trade ties with South Korea
December 04, 2012
 Print    Send to Friend

ISLAMABAD: President Asif Ali Zardari is paying an official visit to Seoul from Dec.3-5 to hold talks with his South Korean counterpart Lee Myung-Bak in a bid to expand bilateral co-operation and enhance trade and economic ties.

President Zardari, who will be accompanied by a business delegation, will discuss ways to boost trade, investment, infrastructure-building and development during the talks, with the Korean entrepreneurs.

The President, who has a hectic schedule during his three-day official stay in the South Korea’s capital, will discuss with his Korean counterpart the whole gamut of bilateral ties between the two countries that mark three decades of diplomatic relations, next year. The two leaders will also discuss ways to significantly enhance their bilateral trade.

The two countries will also ink an agreement and two memoranda of understanding in different areas.

These include an agreement on Grant Aid between Government of the Republic of Korea and the Government of Pakistan (EAD), and two MoUs between Korea Water Resource Corporation (Korea) and Pakistan’s Water and Power Development Authority, and for cooperation in the field of railway between the Ministry of Land, Transport and Maritime Affairs (MLTM) of the Republic of Korea and the Ministry of Railways, Pakistan.

President Zardari, who has meetings scheduled with heads of over a dozen top South Korean companies, will urge the business community to invest in Pakistan, particularly in its energy sector and other sectors of economy.

He will also exhort the Korean investors to bring their capital and technology to Pakistan, establish joint ventures, share their experience and expertise.

The joint ventures will not only help them earn good profits, but also contribute to further strengthening of bilateral trade and economic relations between Pakistan and South Korea. In the past two decades, Korea has become the 12th largest trading partner of Pakistan with a two-way trade volume of about $1.5 billion in 2011.

Korean companies such as Lotte, Posco, Samsung and LG Electronics are well known in Pakistan, while Daewoo’s Islamabad-Lahore Motorway (M-2) has been a landmark project.

NNI News Service

Add this page to your favorite Social Bookmarking websites
Post a comment
Related Stories
Pakistan tightens foreign exchange transfer rules
KARACHI: The State Bank of Pakistan (SBP) has tightened rules for resident Pakistanis to meet their individual foreign exchange (forex) needs related to medical treatment..
Overseas Pakistanis spend $22.5 billion in under-invoicing of goods
KARACHI: Expatriate Pakistanis spend $22.5 billion of their annual earnings worth $40 billion in under-invoicing of goods, funds to investors or for getting residential s..
Pak gets $803.2m foreign direct investment
KARACHI: Pakistan received foreign direct investment (FDI) of $803.2 million in the first 11 months of 2014-15, which is 46.8 per cent less than the FDI received in July-..
Banking sector’s profit rises by 58%, says SBP
KARACHI: Pakistani banking sector’s after-tax profit grew by 58 per cent year-on-year to Rs80 billion during the first quarter of this year, though most of the earnings c..
Remittances from Overseas Pakistanis rise to $16.663b
KARACHI: Remittances from Overseas Pakistanis (OSPs) grew by 16.21 per cent to $16.663 billion during the first 11 months (July-May) of 2014-15 compared to $14.338 billio..
Advertise | Copyright