President Mamnoon for enhanced trade ties with S Korea
16 April, 2014
ISLAMABAD: President Mamnoon Hussain on Tuesday met South Korean Prime Minister Chung Hongwon in Islamabad and emphasised on the need to transform the ties between the two countries into substantive trade and economic partnership.
During the meeting, Mamnoon said that Pakistan attaches great importance to its relations with South Korea and hoped that Hongwon's visit will go a long way in strengthening ties between the two countries. He said that Pakistan offers huge opportunities to the Korean business companies in diverse fields, including energy, infrastructure, railways and telecommunications. He invited Korean investors and entrepreneurs to invest in Pakistan and avail the lucrative incentives offered by the government to the foreign investors.
The president emphasized on bolstering the current trade volume between the two countries, saying that Islamabad has proposed a comprehensive Free Trade Agreement (FTA) with Korea encompassing trade, investment and services with the aim to further enhance trade between the two countries. President Mamnoon urged on frequent exchange of Parliamentary delegations between Islamabad and Seoul in a bid to enhance better understanding and cooperation between the legislators of two countries.
The two leaders expressed satisfaction over the bilateral cooperation which according to them expanded manifold in the past three decades. Mr Chung Hongwon thanked the President and government for the warm welcome and hospitality extended to him. He said that Republic of Korea values its ties with Pakistan and was keen to further boost the relations through enhanced economic and trade cooperation.
He expressed hope that high level interaction between the two countries would provide new impetus to the existing strong partnership between Pakistan and South Korea.