Friday, May 24, 2024

Korean firms keen to invest in Pakistan

Shaukat Ali Mukadam, Pakistan’s former ambassador to South Korea said that many Korean companies, especially small and medium-sized enterprises, were interested in coming to Pakistan for business and investment because they were planning to move out of Korea.

However, to boost their position in the Pakistani market they needed information about the cost of land and the cost of setting up production units in Pakistan, he added.

Shaukat Ali Mukadam said that there was strong hope for increasing the amount of trade between Pakistan and South Korea, and urged Pakistani producers to concentrate on adding value to their goods in order to encourage exports to South Korea.

He said there was great potential for the Pakistani business community to promote Korea’s fruits and many other products. He said that in the 1960s, the Koreans had learned a lot from Pakistan and today the secret behind their development and prosperity was the implementation of correct policies.

He urged the ICCI to consider taking a delegation to South Korea to obtain first-hand knowledge of the prospects for business there. He claimed that he will provide all kinds of cooperation to facilitate trade and investment ties between Pakistan and South Korea, based on his working experience in South Korea.

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