South Korea, Pakistan trade $1.1bln in 2010 despite world’s economic crisis, expected to be $1.4bln this year

Karachi: Bilateral trade between Republic of Korea and Pakistan reached $1.1 billion in year 2010 despite economic crisis of the world and this volume is expected to be $1.4 billion this year, says South Korean Consul General in Karachi In Ki Lee.

Geographically, Pakistan and Korea are located very far from each other although both countries belong to Asia. But, what is more important than this geographical dimension is fact that both countries share many common things in socio-political and culture. “When we suffered during Korean war in 1950, Pakistan helped by giving humanitarian aid and provided its famous five year development plan to Korea in 1960, which enormously helped in its rapid development. Character of Pakistan is included in the foundation of today’s developed Korea,” he said in interview on Monday.

At present, over 10,000 Pakistanis are working very diligently in Korea and contributing to its economy. Pakistani nationals constitute important asset for enhancing friendship between two countries, he added.

Lee said Pakistan business delegation led by Sindh Chief Minister Syed Qaim Ali Shah and comprising 20 CEOs of leading companies visited Korea in May last. Nisar Ahmed Khuhro, Speaker Sindh Assembly also visited Korea on invitation of Korean Government. “I am sure these visits will attract more investment and businessmen into Pakistan from Korea.”

He said seven Korean business delegations visited Pakistan this year to look for their Pakistani partners. World class Korean companies like Samsung, LG, Lotte, Sangyong, POSCO, Sambu, Daewoo are showing keen interest to invest and establish joint ventures with Pakistani companies especially in fields where Pakistan is in need.

“It is very true that Pakistan is facing biggest challenges these days; not only war against terrorism but also huge number of flood victims, law and order problem, shortage of electricity, water etc. Since 9/11 ten years ago, thousands of Pakistani soldiers, policemen, innocent civilians have been killed by war against terrorism. In this difficult time, every Korean is with Pakistani people and eager to help them overcome these difficulties.

“I believe world community should acknowledge these sacrifices thrust on people and government of Pakistan in global fight against terrorism. Pakistan is a great country with 180 million population, rich natural resources, well trained manpower; enough assets that can be utilized in overcoming the current crisis,” he stated.

Leave a Reply