Pakistan' Trade With Korea Flourishes As Exports Doubled: Sung Jae Kim

The bilateral trade between Pakistan and Korea witnessed a significant boost with Pakistan's exports to Korea doubling to reach $306 million in the previous year

KARACHI, (UrduPoint / Pakistan Point News - 17th Jul, 2023 ) :The bilateral trade between Pakistan and Korea witnessed a significant boost with Pakistan's exports to Korea doubling to reach $306 million in the previous year.

It was stated by Director General of Korea Trade Investment Promotion Agency (KOTRA) in Karachi, Sung Jae Kim, during his visit to the Korangi Association of Trade and Industry (KATI), said a statement issued here on Monday.

Kim highlighted growing trade relations between the two countries and emphasized the need for further bolstering cooperation as well as technology transfer from Korea to Pakistan.

He noted that promising growth in trade and investment between Pakistan and Korea bodes well for strengthening bilateral relations and fostering economic growth in both nations.

Kim mentioned that Korean companies were working in Pakistan in fish food processing and chemical sectors while YouTubers from Korea were showcasing the beauty of Pakistan to the world.

He said that over 10 thousand Pakistanis were residing in Korea while there were opportunities of investment in Fisheries and Textile sectors in Korea available to Pakistanis.

Kim acknowledged the brotherly trade ties between the two nations and praised the talent and proficiency of Pakistani youth in speaking English.

President of KATI, Faraz-ur-Rehman, in his telephonic address, stressed the importance of exchanging delegations to promote trade between Pakistan and Korea.

He said that a committee has been formed by KATI for enhancing bilateral trade and investment while a delegation of KATI was scheduled to visit Korea shortly to explore investment opportunities.

Speaking on the occasion, Vice President KATI, Muslim Mohammadi, highlighted various trade opportunities between Pakistan and Korea, particularly in the fisheries, textiles, pharmaceuticals, and furniture industries.

He emphasized the need for organizing bilateral trade exhibitions to facilitate business exchanges and called for relaxing Korea's visa policy to facilitate tourism between the two nations.