Consul General of Korea Lee Chang-hee has said that the current trade volume between Pakistan and Korea is $1.6 billion which can be increased further by launching joint ventures between the two countries. The Korean envoy also says that both the countries have understanding on various regional and international issues and are part of several common groups.
Pakistan and Korea have been enjoying cordial relations since independence and are already cooperating in several fields of the economy. At the moment, various Korean companies are working in development and infrastructure projects in Pakistan, including Lahore-Islamabad Motorway, dams and power plants. As the Korean envoy put it, there is still room for improvement, the Pakistani businessmen can find common ground to enhance trade between the two countries and launch joint ventures in collaboration with the Korean companies. Korea is the eighth largest economy in the world with $ 1 trillion trade volume.
Korea is a success story in the modern age whereas Pakistan is not even a comma or full stop. Korea has reached the pinnacles of economic growth by copying Pakistan’s third five year plan. However, there is no use of beating about the bush and the best way is to look toward future and introduce solid economic policies to put the country on the road of progress. There is a lot of potential in Pakistan and the Pakistani businessmen can use the Korean experience in the field of trade and industry.
Korea imports raw material from Pakistan for various products and Pakistan can also use the same raw material to produce value added products. It is a good opportunity for the Pakistani businessmen to trade with Korea and take advantage of the advance technology available with Korea.
