President Mamnoon Hussain exchanging views with Speaker National Assembly of Republic of Korea Kang Chang Hee. PHOTO: PID
“There is enormous untapped potential for trade that needs to be tapped,” he said during a meeting with a Korean parliamentary delegation.
Hussain said Pakistan attached great importance to its relations with South Korea and was keen to further strengthen bilateral trade and commercial ties.
Speaking about Korea’s contribution to the economy of Pakistan, he said Pakistan possessed huge potential in the energy sector which could be harnessed with Korean assistance by setting up power plants.
Hussain invited Korean companies to invest in the energy sector and avail themselves of the incentives.
“Frequent exchange of business delegations was crucial for optimum utilisation of the huge trade potential by the two countries,” he added, saying that this would enable the business communities of the two countries to interact with each other.
Hussain expressed confidence that Pakistan-Korea cooperation would not only promote friendly ties but will also benefit the economy of both countries.
Speaking about the economic progress achieved by South Korea, he said Pakistan had adequate skilled manpower and could assist South Korea in meeting additional manpower requirements.
Speaker National Assembly of South Korea, Kang Chang, said Korea valued its relations with Pakistan and was keen to further boost existing relations through enhanced economic cooperation.
“Frequent exchange of trade delegations between the two countries would provide new impetus to the existing partnership,” Chang added.
Published in The Express Tribune, February 1st, 2014.
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