Karachiite
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KARACHI: South Korean companies presently in India will be opening offices in Pakistan, while another leading South Korean company, POSCO has also shown interest to invest significantly here this year.
This is indicative of the fact that Pakistan holds massive potential for foreign investment, said Consul General of South Korea in Karachi , In-Ki Lee who during his visit to Federation House, the Head Office of Federation of Pakistan Chambers of Commerce and Industry here. Ambassador of Pakistan in Seoul, Shaukat Mukaddam also accompanied him , said a FPCCI statement here on Thursday.
In a meeting with FPCCI leadership and its senior members, they discussed the issues relating to bilateral trade and investment. The visiting dignitaries were welcomed by Tariq Sayeed, Vice President of Confederation of Asian Chambers of Commerce and Industry, former president FPCCI, Vice Presidents FPCCI Dawood Usman Jakhura, Akbar Khan and Engineer Usman Shaikh.
Tariq Sayeed suggested holding bi-annual meetings of the Pak-Korea Joint Business Council in Pakistan and South Korea to make the JBC a more active forum. He further stressed the importance of attracting investment in the form of joint ventures from Korea to Pakistan.
He informed the visiting dignitaries that law and order situation in Pakistan was much better than the media perceptions.
He stated that Pakistan was looking eastwards to expand its trade and economic relations, and Korea constituted a vital part of this process. He said that the balance of trade favoring one country or the other should not be made an issue. Our focus should be on expansion in overall trade.
Tariq Sayeed suggested that single-country exhibitions be held in Pakistan and South Korea.
Frequent exchange of delegations from both sides was crucial to develop trade relations further.
He stated that the new FPCCI desk at Karachi International airport, which was inaugurated by Interior Minister Rehman Malik recently would facilitate businessmen greatly.
The same facility is expected to be launched at Lahore and Islamabad Airports shortly. Pakistan's Ambassador to South Korea Shaukat Mukaddam traced the history of Pak-Korean diplomatic and trade relations and expressed the desire to expand the trade between the two countries from dollars 1.4 billion to dollars 3 billion over the next 3 to 4 years. He expressed satisfaction over the recent improvement in Pakistan's trade balance with Korea , but pointed out that there still existed immense potential for improvement.
He mentioned that some major investments by Korean companies such as Samsung, Daewoo and Lotte engaged in infrastructure, steel, food processing and beverages sectors here. This indicated that presence of almost all the big Korean conglomerates in Pakistan.
He mentioned that Korea was keen to invest in emerging markets in South Asia, and pointed out that Pakistan could provide a trade corridor to the landlocked Central Asian States.
Korean Consul General, In Ki Lee suggested that FPCCI should send a strong delegation to the Korean Expo in Seoul in May-August 2012, which would be a great opportunity to introduce Pakistani products to the Korean market. He mentioned Korean investment in wind power projects and infrastructure in Pakistan and said more investment likely in joint ventures in seafood, leather processing and rice given by the Pakistani businessmen.
More Korean investment in pipeline
This is indicative of the fact that Pakistan holds massive potential for foreign investment, said Consul General of South Korea in Karachi , In-Ki Lee who during his visit to Federation House, the Head Office of Federation of Pakistan Chambers of Commerce and Industry here. Ambassador of Pakistan in Seoul, Shaukat Mukaddam also accompanied him , said a FPCCI statement here on Thursday.
In a meeting with FPCCI leadership and its senior members, they discussed the issues relating to bilateral trade and investment. The visiting dignitaries were welcomed by Tariq Sayeed, Vice President of Confederation of Asian Chambers of Commerce and Industry, former president FPCCI, Vice Presidents FPCCI Dawood Usman Jakhura, Akbar Khan and Engineer Usman Shaikh.
Tariq Sayeed suggested holding bi-annual meetings of the Pak-Korea Joint Business Council in Pakistan and South Korea to make the JBC a more active forum. He further stressed the importance of attracting investment in the form of joint ventures from Korea to Pakistan.
He informed the visiting dignitaries that law and order situation in Pakistan was much better than the media perceptions.
He stated that Pakistan was looking eastwards to expand its trade and economic relations, and Korea constituted a vital part of this process. He said that the balance of trade favoring one country or the other should not be made an issue. Our focus should be on expansion in overall trade.
Tariq Sayeed suggested that single-country exhibitions be held in Pakistan and South Korea.
Frequent exchange of delegations from both sides was crucial to develop trade relations further.
He stated that the new FPCCI desk at Karachi International airport, which was inaugurated by Interior Minister Rehman Malik recently would facilitate businessmen greatly.
The same facility is expected to be launched at Lahore and Islamabad Airports shortly. Pakistan's Ambassador to South Korea Shaukat Mukaddam traced the history of Pak-Korean diplomatic and trade relations and expressed the desire to expand the trade between the two countries from dollars 1.4 billion to dollars 3 billion over the next 3 to 4 years. He expressed satisfaction over the recent improvement in Pakistan's trade balance with Korea , but pointed out that there still existed immense potential for improvement.
He mentioned that some major investments by Korean companies such as Samsung, Daewoo and Lotte engaged in infrastructure, steel, food processing and beverages sectors here. This indicated that presence of almost all the big Korean conglomerates in Pakistan.
He mentioned that Korea was keen to invest in emerging markets in South Asia, and pointed out that Pakistan could provide a trade corridor to the landlocked Central Asian States.
Korean Consul General, In Ki Lee suggested that FPCCI should send a strong delegation to the Korean Expo in Seoul in May-August 2012, which would be a great opportunity to introduce Pakistani products to the Korean market. He mentioned Korean investment in wind power projects and infrastructure in Pakistan and said more investment likely in joint ventures in seafood, leather processing and rice given by the Pakistani businessmen.
More Korean investment in pipeline
