South Korea’s Ambassador calls on Commerce Minister to Strengthen Economic Cooperation

Islamabad, May 24, 2024 :

In a significant step towards enhancing economic relations, the Republic of Korea’s Ambassador to Pakistan, H.E. Park Kijun, called on the Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, to discuss and strategize on boosting bilateral trade and investment.

Minister Khan emphasized that over the past three months, Prime Minister’s top priorities have focused on enhancing business connectivity and simplifying the process of doing business in Pakistan.

He briefed him on government’s proactive measures in stabilizing the economy, which he believes are making Pakistan an increasingly attractive destination for foreign investment.

Ambassador Park Kijun expressed a strong desire to collaborate closely with Pakistan to enhance trade volumes and explore new business opportunities. Minister Khan assured the ambassador that the government stands ready to promptly resolve any problems to ensure smooth and efficient operations for foreign businesses in Pakistan.

Additionally, Minister Khan invited Korean investors to capitalize on upcoming privatization opportunities within various government departments.

This move aligns with the Prime Minister’s vision of increasing private sector involvement in the economy to improve efficiency and service delivery.

Federal Minister Jam Kamal Khan extended an open invitation to Korean companies, urging them to explore and invest in Pakistan’s commercial and strategic projects.

Key sectors highlighted for potential investment included energy, port and shipping, fisheries, and agriculture—areas deemed critical for Pakistan’s economic development and offering substantial opportunities for international investors.

During the meeting, the Minister for Commerce also briefed the Ambassador on the successful holding of the recent Saudi Arabia-Pakistan Investment Forum 2024 which was attended by the top investors from Saudi Arabia. He informed the Ambassador that Pakistan can organise a similar match-making event for the big Korean conglomerates and investors wishing to invest in Pakistan. In conclusion, Jam Kamal Khan reiterated the government’s commitment to making business operations in Pakistan more accessible and reliable. He expressed optimism Pakistan is now progressing towards a phase of prosperity and growth. Each passing month, he noted, brings new opportunities and a more favourable business climate.