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Pakistan keen to promote trade ties with Korea

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Pakistan is looking forward to strengthening bilateral relations with Korea and promote trade and investment linkages between the two countries, said Federal Minister for Finance and Revenue Shaukat Tarin.

During a meeting with Korean Ambassador Suh Sang-Pyo, the minister thanked Korea for the three-year framework arrangement under which $500 million are being provided for projects in IT, education and health.

According to a statement issued on Tuesday, both sides exchanged views on economic potential and stressed the need to further promote mutual trade and investment linkages. The finance minister expressed the desire of increasing exports to Korea. He briefed the envoy about the recent economic developments and initiatives.

“The current government aims to achieve an all-inclusive and sustainable economic growth with key focus on bottom-up approach,” he said, adding that the government had chalked out short, medium and long term plans to spur growth in key priority areas. Furthermore, Tarin added that the government was coming up with a comprehensive policy for expansion of auto industry in Pakistan by increasing the production of cars, motorcycles, tractors etc.

The minister reiterated that the government was determined to encourage and incentivise foreign investors who were keen to undertake investment ventures in respective fields. “The government also stands committed to revive the businesses and industry that had been hit hard due to coronavirus pandemic,” he maintained.


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