South West Asia: Pakistan to soon emerge as major player: Korean envoy

FAISALABAD: Serious efforts would be made to enhance direct trade relations between Faisalabad and Korea, said Korean Ambassador Excellency Park Kijun. He addressed the business community in Faisalabad Chamber of Commerce & Industry (FCCI) and said that Faisalabad is an important textile hub of Pakistan.

Korean Ambassador said that bilateral cooperation in this sector would be further improved in the coming years. He particularly identified agriculture, textile, energy and IT and said that these sectors have potential to increase cooperation for the benefit of the two countries.

He said that Korean businessmen fully understand this potential and hopefully they would exploit it by enhancing investment and technical cooperation.

He was optimistic that Pakistan would soon emerge as a major player in South- West Asia because of its economic growth and social development. He said that FCCI should play a key role in enhancing bilateral trade between Faisalabad and Korea while the Korean embassy would also complement these efforts. He said that relations between the Korean embassy and FCCI would be further strengthened to give a quantum jump to bilateral trade.

About the short stay period on multiple visas, he assured to resolve this issue in consultation with President FCCI. He also assured to share Korean experience of SMEs with Faisalabad so that this sector could make tremendous progress in this field. He said that empowerment of women is a general global issue however we would also look into it to involve Pakistani women in the national mainstream. He said that Pakistani mangoes are being exported to Korea and Pakistani exporters would get more orders for the export of this specific Pakistani delicacy.

About import of Korean dyes and chemicals, he said that our quality products are comparatively costly as compared to the Chinese products. However, he hoped that Korean companies would again take interest in the Pakistani market and regain it with innovative marketing steps.

Earlier Dr Khurram Tariq President FCCI welcomed the Korean ambassador and his team. He also introduced Faisalabad and FCCI and quoted his first meeting with his Excellency in which particular stress was laid on exchange of cultural delegations. He said that 25 major Korean companies are working in Pakistan while a hydroelectric power project was also undertaken in KPK with an estimated cost of $1bn. He said that a state-of-the-art Technical Textile Centre has also been established in NTU with Korean assistance. He further said that the biggest Korean investment in Faisalabad is in the Nishat Hyundai assembly plant in FIEDMC.

Maqsood Akhtar Butt, Arif Ihsan Malik, Ms. Najma Afzal and others exchanged views with the Excellency on diverse issues.

Later Executive Member Muhammad Azhar Chaudhry offered vote of thanks while President Dr Khurram Tariq along with Vice President Haji Muhammad Aslam Bhalli presented FCCI shield to Park Kijun, ambassador of South Korea. The Excellency also presented gifts to Dr Khurram Tariq and Haji Muhammad Aslam Bhalli. He also recorded his impressions in the FCCI visitor’s book.

Copyright Business Recorder, 2024