Islamabad: South Korean Ambassador Suh Sangpyo has stated that signing a Free Commerce Agreement between Pakistan and the Republic of Korea will greatly enhance bilateral trade between the two friendly countries (FTA).
“In the case, South Korea and Pakistan sign the Free Trade Agreement (FTA), it will be very good for boosting bilateral trade between both countries. Korean investors are not necessarily looking for facilities like China, Pakistan Economic Corridor (CPEC) but we can facilitate business ties through FTA,” commented Sangpyo in an exclusive interview with Pakistan Today.
He stated that the business climate in Pakistan is improving day by day as a result of the government’s supporting measures. Furthermore, he stated that the key is for the Korean government to encourage Korean businesspeople to visit Pakistan and establish connections.
According to the ambassador, an avalanche of Korean investment is expected in the hydropower and energy sectors. “Samsung also plans to open an assembly line in Karachi by the end of this year and begin mass manufacturing of about 3 million mobile phones the next year. These are encouraging signals for Pakistan-Korea trade and investment relations, he noted.
He stated that Korea is now concentrating on trade and commercial connections with other nations. The Ambassador further said that their rural development administrator recently visited Pakistan and signed a Memorandum of Understanding (MOU) to promote agriculture technology collaboration between the two nations.