South Korean Ambassador in Pakistan Choongjoo Choi has said that Korean companies are all set to make investment in Pakistan’s power sector. The ambassador was speaking at the Lahore Chamber of Commerce and Industry (LCCI).
On the occasion, the ambassador said that more and more Korean companies are showing their interest for investment in energy sector to help Pakistan overcome the acute energy shortage it has been facing for long.
He said that Korea’s trade with India stands at $16 billion which will be doubled in a few years, it is $1 billion a day with China while bilateral trade with Pakistan is mere $1.1 billion.
He, however, expressed the optimism that the volume of trade between Pakistan and South Korea is bound to increase as both the governments and the private sector, in the two countries, are taking measures to get the desired results.
He said that the non-availability of required trade-related information was the biggest hurdle in the way of South Korean investment in Pakistan.
The diplomat while identifying a number of areas for mutual cooperation said that there was a need for expertise sharing as both countries have a lot to learn from each other.
He said that there is a big potential in Small and Medium Enterprises (SME) sector therefore Pakistani business community could avail opportunities in this particular area.
Published in The Express Tribune, August 4th, 2011.
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