Vast opportunities exist for Pak-korea trade

There are excellent opportunities for joint ventures between Pakistan and Korea in many fields including alternate energy, agriculture, engineering sectors, food processing, technical and technological collaborations. This was stated by President FPCCI Haji Fazal Kadir Khan Sheerani during the first meeting of Pak-Korea Business Council of Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

Sohail Nisar, Chairman the Council convened the meeting which was also attended by Consul General of Republic of Korea in Karachi, Chang-Hee Lee, said a FPCCI release here Wednesday. The President FPCCI emphasized the need for more interaction between the business communities of the two countries including trade delegations and exhibitions for promotion of new products, increasing bilateral trade and investment.

He suggested for conduct- ing a joint study to find new products for bilateral trade and to remove hurdles that impede the bilateral trade between Pakistan and South Korea.

The President FPCCI suggested establishing a special window at the Consulate General of Korea at Karachi to issue visa to the genuine businessmen on the recommendation of FPCCI.

Chairman, Pak-Korea Business Council, Sohail Nisar mentioned that Korea has demand for at least 20,000 tons of mango, which is currently being met through imports from some other countries. But, he continued, delicious, aromatic and different varieties of mangoes grown in Pakistan have no parallel and this can be the best choice.

He said that despite 30 percent duty on mango imports, Pakistani fruit can capture Korean market. He, however, called for swift processing of mango at the existing facilities.

Members of the Council informed the Consul General about the difficulties being faced by them in the process of obtaining visa despite that they have visited Korea several times for business purpose.

Chang-Hee, Consul General of Republic of Korea in Karachi thanked the FPCCI for inviting him. He informed that Korea is the 12th largest economy in the world and 4th largest in Asia.

He said Pakistan and South Korea have many commonalities in social, political or cultural sectors and enjoy a much deeply enrooted friendly and mutually co-operative relations since more than six decades. He said it was encouraging for him to witness the presence of big Korean Corporations in Pakistan like Samsung, LG, Lotte, Ssangyong, POSCO, Daewoo and establishing relationship with Pakistani business community.

Chang-Hee said the problems faced by Pakistani businessmen are regrettable and he would take up the matter with the Authority in Korea for rectification.