Pakistan and South Korea Forge New Economic Partnership

Islamabad: Special Investment Facilitation Council is spearheading efforts to foster international partnerships aimed at economic growth, with the recent signing of an economic partnership agreement between Pakistan and South Korea marking a significant step forward in trade relations between the two nations.

According to a statement by Ministry of Information and Broadcasting, South Korea’s Trade Minister, Inkyo Cheong, proposed a plan to shift Korea’s industrial base to Pakistan. This move is anticipated to open new avenues for collaboration and economic development in Pakistan.

The South Korean Minister also expressed a strong interest in dispatching a business delegation to Pakistan. This initiative aims to bolster private sector relations, further strengthening the economic ties between the countries.

Federal Minister for Commerce, Jam Kamal, underscored the substantial trade potential between Pakistan and South Korea, estimating it to reach 1.3 billion dollars annually. He also pointed out the benefits Pakistani businesses could reap by learning from South Korea’s technological advancements.

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