News Paper: Business Recorder
LAHORE (July 23 2010): Pakistan's Ambassador-designate to South Korea, Shaukat Ali Mukadam while expressing optimism said the volume of trade between Pakistan and South Korea is bound to increase as Korean businessmen have shown their interest in making investment in Pakistan.
While speaking at the Lahore Chamber of Commerce and Industry on Thursday, the Ambassador urged the Pakistani businessmen to concentrate on value addition as South Korea has huge potential for quality products. While identifying a number of areas for mutual co-operation, he said that there is a need for the technology transfer as both the countries have a lot to learn from each other. He said that there is a big potential in the fruit business, therefore, Pakistani business community should avail opportunities in this sector.
He said that the Koreans had learnt a lot from Pakistan in 60s and today the secret behind their progress and prosperity was the implementation of policies. He urged the LCCI to arrange a sector-specific delegation to South Korea so that Pakistani businessmen could have first hand knowledge about opportunities there. He said that Pakistan embassy would extend maximum cooperation to all business delegations.
Speaking on the occasion, the LCCI Acting President Ijaz A Mumtaz said that to create a win-win situation for both the countries, Koreans need to increase their imports of cotton, raw hides and skins, fish, medical apparatus, toys and games, leather products, articles of apparels and textile articles from Pakistan.
Most of the Korean demand for these commodities is being met by Korea from sources other than Pakistan and only a small fragment is being imported from Pakistan. A little attention by the Korean Government and businessmen can increase Pakistan's exports to Korea considerably.
He called for increase in Korean investment. He informed the ambassador that Pakistan's large market of 170 million people, its strategic location as principal gateway to the Central Asian States and other regional countries offer lot of opportunities for relocation of Korean Industries in Pakistan. Pakistan is open to Foreign Direct Investment in all the sectors. He said that although a large number of Korean companies such as LG, Samsung, Daewoo, Kia, Hyundai are doing good business in Pakistan but the volume of Korean investment in Pakistan is decreasing. It needs to be considerably increased
-www.brecorder.com
While speaking at the Lahore Chamber of Commerce and Industry on Thursday, the Ambassador urged the Pakistani businessmen to concentrate on value addition as South Korea has huge potential for quality products. While identifying a number of areas for mutual co-operation, he said that there is a need for the technology transfer as both the countries have a lot to learn from each other. He said that there is a big potential in the fruit business, therefore, Pakistani business community should avail opportunities in this sector.
He said that the Koreans had learnt a lot from Pakistan in 60s and today the secret behind their progress and prosperity was the implementation of policies. He urged the LCCI to arrange a sector-specific delegation to South Korea so that Pakistani businessmen could have first hand knowledge about opportunities there. He said that Pakistan embassy would extend maximum cooperation to all business delegations.
Speaking on the occasion, the LCCI Acting President Ijaz A Mumtaz said that to create a win-win situation for both the countries, Koreans need to increase their imports of cotton, raw hides and skins, fish, medical apparatus, toys and games, leather products, articles of apparels and textile articles from Pakistan.
Most of the Korean demand for these commodities is being met by Korea from sources other than Pakistan and only a small fragment is being imported from Pakistan. A little attention by the Korean Government and businessmen can increase Pakistan's exports to Korea considerably.
He called for increase in Korean investment. He informed the ambassador that Pakistan's large market of 170 million people, its strategic location as principal gateway to the Central Asian States and other regional countries offer lot of opportunities for relocation of Korean Industries in Pakistan. Pakistan is open to Foreign Direct Investment in all the sectors. He said that although a large number of Korean companies such as LG, Samsung, Daewoo, Kia, Hyundai are doing good business in Pakistan but the volume of Korean investment in Pakistan is decreasing. It needs to be considerably increased
-www.brecorder.com
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