Pakistan-South Korea economic cooperation enters a new era
Business
South Korean minister presents a plan to transfer his country's industrial base to Pakistan
ISLAMABAD (Dunya News) – Efforts being made by the Special Investment Facilitation Council continue to yield results as Pakistan and South Korea have started a new era of economic cooperation.
An economic partnership agreement has been signed between the two countries, with the South Korean Minister of Trade Inkyo Cheong presenting a plan to transfer Korea's industrial base to Pakistan. The agreement reflects the commitment to enhance trade, investment, and long-standing diplomatic relations between the two countries.
To strengthen private sector ties between both nations, the South Korean minister has expressed interest in sending a business delegation to Pakistan, which will create new opportunities for cooperation in various sectors such as food, IT, minerals, textiles, and logistics.
Federal Minister for Commerce, Jam Kamal, highlighted the potential for annual trade of $1.3 billion between Pakistan and South Korea and emphasised the importance of learning from South Korea's technology.
