2nd round of CEPA talks with Seoul soon

Pakistani, Korean firms sign six MoUs at investment conference

ISLAMABAD:

A Pakistan-Korea Trade and Investment Conference was organised in Seoul, bringing together over 170 Pakistani and Korean businessmen and resulting in the signing of six memoranda of understanding (MoUs) between companies of the two countries.

The conference was held in the backdrop of ongoing negotiations between Pakistan and Korea on a Comprehensive Economic Partnership Agreement (CEPA). Addressing the conference via video link as the chief guest, Federal Minister for Commerce Jam Kamal Khan stated that the first round of CEPA negotiations between Pakistan and Korea had been successfully concluded and the second round was expected to begin soon.

The minister said the agreement, once finalised, would open new avenues for Pakistani exporters and further strengthen bilateral economic relations. He urged the business communities of both countries to utilise the platform provided by the conference to forge concrete partnerships ahead of conclusion of the agreement.

The conference was attended by 91 Korean and 82 Pakistani businessmen, including members of the Pakistani diaspora in Korea as well as delegates from the Sialkot Chamber of Commerce and Industry and the Gujranwala Chamber of Commerce and Industry.

The proceedings commenced with a welcome address by the ambassador of Pakistan, followed by remarks from the vice chairman of the Daegu Chamber of Commerce and Industry.

Officials of the Special Investment Facilitation Council (SIFC) and the Trade Development Authority of Pakistan (TDAP) also briefed the participants, highlighting Pakistan's export potential in textiles and apparel, leather goods, surgical and sports goods, agro-food products, minerals and IT services.

During the dedicated business-to-business (B2B) sessions, Pakistani companies represented by the Sialkot, Gujranwala and other chambers of commerce signed six MoUs with their Korean counterparts, covering sectors such as salt, cosmetics, oil and sesame seed trade.

The MoUs are expected to serve as a foundation for definitive commercial agreements between the respective companies. The commercial wing of the embassy of Pakistan in Seoul will continue to serve as the focal point for facilitation of Korean investors and trading partners. It was announced that a second such conference was being planned in Seoul in March 2027 to build on the momentum generated once CEPA was concluded.