Karachi, 1 December 2021 (TDI): South Korean Ambassador to Pakistan, Suh Sangpyo visited Karachi. Whilst there, he met with the local businessmen community. The Consul General of Korea in Karachi, Kim Haksung also attended the meeting.
Agenda of the Meeting
During the meeting, the participants from both sides deliberated upon the potential for mutually beneficial bilateral trade and investment between South Korea and Pakistan.
Ambassador Sangpyo stated that Korean enterprises are increasingly interested to invest in Pakistan and are eyeing the country as a potentially lucrative market.
Moreover, he highlighted that the already existing joint projects with the Pakistani companies in the manufacturing field are running amicably.
Additionally, he assured the Pakistani businessmen that he will recommend Pakistan as a profitable future market, to the Korean companies that are keen to explore overseas markets.
Potential of Pakistan Market
An interactive session was also part of the meeting. The participants briefed the Ambassador and his entourage about the sectors that are lucrative for future joint ventures with Korean Companies.
Furthermore, they also discussed equity participation and technical cooperation with Pakistani business enterprises.
Ambassador Sangpyo stressed that the current figures associated with trade and investments between the two partners have the potential to further increase.
The government of Pakistan is resolute to incentivize as well as encourage foreign investors who are interested to initiate investment ventures in Pakistan.
Furthermore, the Pakistani government is committed to revitalizing the businesses and industries that have suffered economic losses because of the Coronavirus pandemic.
Pakistani side in the meeting was represented by some of the bigwigs of the Pakistani business community, namely Bashir Ali Mohammad, Nadeem Kazmi, Arif Habib, Sohail Shams, Sulaiman Mehdi, Ehsan Malik, Abbas Akberali, Kalim Farooqui and Asad Ali Shah.
South Korea and Pakistan have mutually advantageous and friendly bilateral ties which are steadily growing due to the interest of both parties to invest in the trade sector. The two collaborate in an array of fields, particularly the automotive industry and with technological as well as telecommunication giants like Samsung.
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