Trade ties with Pakistan seen to grow further: Korean Hi-Tech exhibition opens

The President of Korean Trade Centre (Kotra) for Asia and Oceania of Korea, Chae Kyung Lee, said here that in the present changing economic scenario improving co-operation between Pakistan and Korea becomes more important.
Speaking at the inaugural ceremony of Korea's single country exhibition 'Hi-Tech Korea 2004' at Expo Centre here on Friday, he said that there is need to increase co-operation not only in high-tech sector but also in every sector of economy including agriculture, industry, technology transfer and investment etc.
Chae Kyung Lee said that Koreans are seeking reliable partners in Pakistan to further increase export trade and investment in this country.
He said that Pakistan and Korea both enjoy best relation in political, economy and social sector.
He noted that several companies of Korea are working in Pakistan whose names have become household affair in Pakistan.
Chae Kyung Lee said that trade between Pakistan and Korea is increasing fast and trade volume, which was around $700 million, has increased by 20 percent, and hoped that it would further increase by 20 to 25 percent this year.
Siraj Kassim Teli, President, Karachi Chamber of Commerce and Industry (KCCI), said that holding this exhibition was very timely from the point of view of Pakistan because it would send positive signals to foreign investors about law and order situation and would help improve the image of Pakistan, which is being tarnished, out of proportion, by western media.
He said that Pakistan and Korea had almost same level of economic development in '50s. Pakistan, rather had a slight edge over Korea. "However, the people of Korea, its government and the private sector deserve our appreciation for achieving an incredible record of growth and integrated into the high-tech modern world economy, whereas Pakistan is still struggling to make its mark in a big way."
He said Pakistan's trade relations with South Korea have increased during the last five years, but are not reflective of the close and cordial relations "that we have".
He said that Pakistan and South Korea have made a tremendous headway in joint ventures and industrial co-operation. Major Korean business conglomerates, such as Daewoo, Hyosung, Hyundai, Lucky-Goldstar and Samsung have joined hands with Pakistanis.
He expressed confidence that with the passage of time the economic and trade relations between the two countries would further grow.