Sharif invites S. Korean PM for ‘country partnership’
PM tells visiting Hongwon Pakistan keen to emulate Korean model
islamabad — Prime Minister Nawaz Sharif has invited his South Korean counterpart to prepare a Country Partnership Strategy between the two countries for the next three years.
He was talking to Korean Prime Minister Chung Hongwon who along with a high level delegation called on Prime Minister Nawaz Sharif here on Monday.
He said Pakistan offers huge opportunities to the Korean business companies in energy generation including hydel, wind, solar, biomass and coal generation.
The prime minister said Pakistan is happy to witness the progress and development of the Republic of Korea and we are interested to learn from Korean experience. He said it is heartening to note that trade between our two countries reached $1.6 billion in 2012. Pakistan has proposed a comprehensive Free Trade Agreement that covers trade, investment and services so that trade between the two countries could be further enhanced.
Sharif appreciated the ‘Joint Business Forum’ organised by Korea Trade Investment Promotion Agency and Board of Investment, Pakistan, on the sidelines of this visit and expressed hope that as an outcome of the forum the Korean companies would be engaged in the energy, infrastructure development, railways and telecommunication sectors.
He said that construction of off-shore and on-shore liquefied natural gas (LNG) terminals also offer investment opportunities to Korean companies and Pakistan would welcome and facilitate Korean capital and technology in these sectors. Sharif said the Free Economic Zone along the ChinaPak Economic Corridor also offers investment opportunities to Korean investors.
The prime minister invited Korean financial institutions to start their operations in Pakistan adding that opening of a branch of Korean bank in Pakistan would boost business between the two countries.
The Korean prime minister said that Pakistan and Korea should expand their trade, economy and energy sectors and enhance bilateral relations by increasing personnel exchanges in the private sector.
Views were also exchanged on regional and international issues. —