South Korean Ambassador to Pakistan Choongjoo on Friday said Pakistan's economy was showing clear signs of recovery that calls for enhanced trade between the two countries.
Speaking at a reception hosted at his residence in honour of national trade leaders, the Ambassador said that Korea trade with India stood at $16 billion which would be double in few years while the volume of trade with Pakistan was mere $1.1 billion.
According to an announcement of the FPCCI here on Friday, the ambassador said that Pakistan business community was strong enough to withstand all the challenges and had a very favourable view for South Koreans but this was not translating into actual trade potential between the two countries.
"My country wants to enhance co-operation with Government of Pakistan and private sector so that economy of this great nation can come out of crises and it emerges as one of our major trading partner," he added
Choongjoo said that Pakistan has great resources and tremendous potential while Korea only rely on technology. "Nothing can stop Pakistan from becoming a developed nation if it adopts few corrective measures," he said.
On the occasion, Tariq Sayeed, Vice President CACCI and former President FPCCI and SAARC CCI said that current volume of bilateral trade did not reflect the cordial relations between the two nations.
He said that 23 companies of South Korea were working in Pakistan.
"We need to learn a lot from world's 15 largest economy, to contribute towards the noble cause of national development which will resolve many challenges faced by the country," said Tariq Sayeed.
Senator Haji Ghulam Ali, President FPCCI said that they should identify hitches barring trade and expressed resolve to contribute towards enhanced co-operation.
He said that the non-availability of proper information was 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. He said that they could benefit from the promising SME sector of Korea.
Others who attended the reception include VPs FPCCI, Aamir Atta Bajwa, Akbar Khan, Fazl Elahi, Capital Office officials Hameed Akhtar Chadda, Raza Khan, President Women's Chamber Samina Fazil, Secretary General 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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