ISLAMABAD: Prime Minister Nawaz Sharif has proposed a comprehensive Free Trade Agreement (FTA) with the Republic of Korea for enhanced cooperation in trade and investment. He has also called for preparing a Country Partnership Strategy with the Republic of Korea in the fields of trade and investment for next three years.
Prime Minister Nawaz Sharif said this in a meeting with the Prime Minister of Republic of Korea, Chung Hongwon adding that Pakistan and Korea needed to mutually exploit their trade potential.
Meanwhile, both countries have inked a memorandum of understanding for enhanced cooperation in the field of energy, trade and investment.
Korean Premier arrived in the capital city on a four-day official visit on Sunday April 13. Chung Hongwon is visiting Pakistan at the invitation of his counterpart in the country. He has said that Korea looks forward to enhance bilateral trade relations with Pakistan in different sectors including infrastructure, automobile and chemicals. “Since 1983, both countries have been engaged in friendly relations and bilateral trade volume between the two countries has reached to US $ 1.3 billion which can be further enhanced by boosting mutual trade”, he said while addressing Pakistan-Korea Investment Cooperation Forum.
