Pakistan has huge trade and skilled labour potential
With education and training on the lower side, the existing and incoming labour force does not have the desired level of capacity to effectively participate in economic activities. photo: file
Federal Minister for the Board of Investment (BOI) Chaudhry Salik Hussain has said that there were vast opportunities to further expand economic and trade relations between the Republic of South Korea and Pakistan.
Addressing the “National Foundation and the Armed Forces Day of Republic of South Korea” event as chief guest, the Minister said relations between the two countries were based on deep rooted historical bilateral diplomatic and trade ties.
“An agreement has been reached between ‘Samsung and Lucky Motors’ regarding the production of smart-phones in Pakistan and this will further strengthen economic and trade relations between the two countries,” said the minister.
He added that “South Korea and Pakistan have a great potential of skilled labour which has played its full role in the development of not only their country but also in different regions of the world”.
He recalled the history of diplomatic bilateral relations and highlighted that in the decades of the 60s and 70s, the Pakistani and Korean workforce played a key role in the construction of today’s Middle East.
“Our relations date back deep into history in ‘Gandhara civilisation,” he said.
He also referred to the joint venture of the Korean South East Power Company with a local company at Gullpore generating 102 MW of electricity.
On the occasion, South Korean Ambassador to Pakistan, Suh Sangpyo said that Pakistan and South Korea have strong economic and trade ties, and new avenues of cooperation will be opened in the near future between both countries.”
“Pakistan has a trade potential in all sectors and many Korean companies are coming to Pakistan. We have revised our travel advisory for Pakistan and soon Korea will start group tours,” he stated.
“People-to-people contact between both the countries is very important. A large number of Pakistanis are living in Korea while a good number of Pakistani students are studying there as well,” he stressed.
Published in The Express Tribune, October 2nd, 2022.
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