Sunday, October 1, 2023

Pakistan want to promote trade with Korea

According to Federal Minister for Finance and Revenue Shaukat Tarin, Pakistan is looking forward to improving bilateral relations with Korea and promoting trade and investment links between the two nations.

During a meeting with Korean Ambassador Suh Sang-Pyo, the minister praised Korea for the three-year framework agreement, which includes $500 million for IT, education, and health projects.

According to a statement published on Tuesday, both parties discussed the economic potential and emphasized the importance of expanding mutual trade and investment ties. The finance minister stated a desire to increase exports to Korea. He provided the envoy with an update on recent economic developments and efforts.

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“The present government intends to create all-inclusive and sustainable economic growth with a primary focus on bottom-up approaches,” he said, adding that the government had devised short, medium, and long-term plans to boost growth in key priority sectors. Tarin also stated that the government was developing a comprehensive program to expand the auto sector in Pakistan by boosting the production of automobiles, motorbikes, tractors, and so on.

The minister emphasized that the government was dedicated to promote and incentivize foreign investors who wanted to invest in certain sectors. “The government is also dedicated to reviving enterprises and industries that have been severely impacted by the coronavirus pandemic,” he said.

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