RAWALPINDI: South Korean businessmen have expressed keen interest in forming joint ventures for manufacturing liquefied petroleum gas (LPG) cylinders, automobile batteries and oil lubricants.
The Korean businessmen, being part of a delegation, highlighted the interest during a visit to the Rawalpindi Chamber of Commerce and Industry (RCCI) on Friday.
Delegation leader Alexander Lee pointed out that a renowned Korean company had begun manufacturing LPG cylinders, car batteries, lubricants and other products including construction material. He said the LPG cylinders were of high quality and were meeting European standards. He called relations between Pakistan and South Korea cordial.
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Speaking on the occasion, RCCI President Malik Shahid Saleem stressed that Pakistan's economy was taking off and there were plenty of incentives for foreign investors.
He was of the view that joint ventures in the manufacturing sector would not only secure foreign investment but would also create additional job opportunities.
"There are numerous investment opportunities in almost all the sectors of Pakistan's economy," he said. "Improvement in Pakistan's ranking in the ease of doing business reflects that the economy is well on track."
Underlining that Pakistan could benefit by strengthening trade and economic relations with Korea, which was among 20 largest economies of the world, the RCCI president stressed the need for diversifying product lines of both the countries. He called for mobilising business forums, exchanging business delegations and participating in each other's exhibitions.
Published in The Express Tribune, March 9th, 2019.
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