ISLAMABAD: Patron Islamabad Chamber of Small Traders President Shahid Rasheed Butt has said that despite bureaucratic hurdles and unstable political conditions, it is not impossible to become a developed country.
He said that South Korea’s economic development is based on economic policies of Pakistan. He said, “We must learn lessons from speedy development of Korea which has remained focused on economic development and promotion of SMEs with no political interference in commercial matters.”
Shahid Rasheed Butt said that Pakistan’s trade with Korea stands at $1.6 billion annually while its trade with India is over $16 billion and around $1 billion daily with China.
Business community to develop linkages with Koreans business community and share the opportunities of trade and investment in the current emerging investment friendly scenario of Pakistan, he said.
The veteran business leader said, “Our economy is showing clear signs of recovery that is a golden opportunity for Korean investors to benefit from it”, adding that Pakistan’s energy sector offers around 17 per cent return in dollar terms which is incomparable.
He said that the Korean companies have been investing in Pakistan in chemical, energy and infrastructure and sectors like oil and gas, mining, IT, telecom, food, agriculture, beverages, transport and tourism are awaiting their full attention.
