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FTA to Boost Bilateral Trade Between South Korea, Pakistan

South Korean Ambassador Suh Sangpyo stated in Islamabad that if Pakistan and the Republic of Korea establish a Free Trade Agreement, bilateral trade between the two nations will rise dramatically (FTA).

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The envoy asserted that an infusion of Korean investment will result from the hydropower and energy arrangements. In addition, the Ambassador stated that their rural development administrator recently visited Pakistan and signed a Memorandum of Understanding (MOU) to enhance agriculture technology collaboration between the two nations.

The Ambassador explained that South Korea has multiple levels of cooperation, including government-level cooperation, Business-to-Business (B2B) level cooperation, and individual levels of cooperation, such as tourism and cultural exchanges. Consequently, he noted, B2B connections are currently developing. Governmental cooperation must be regularized and standardized.

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Ambassador Suh Sangpyo concluded the debate when asked about the stalled peace process between South and North Korea by stating that South Korea is always open to initiating any form of peaceful engagement with North Korea to establish good ties.

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