Leaders of Korean trade delegation and Vice Chairman KEMA, Kin Hyon has said that Korea is interested to boost two-way trade and want to establish industrial units in joint venture with Pakistan.
Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) on Wednesday, he said that there is number of areas in which Korea can cooperate with Pakistan and provide technical information Speaking on the occasion, Commercial Counsellor of Pakistan in Korea, Fawad Hasaim Rabbani said that 80 percent goods export to Korea from Pakistan comprises raw material.
He advised business community to export goods after some value addition to fetch more foreign exchange. He said there is good chance to export fish and fish products, vegetables and fruits etc. Referring to rice export to Korea, he said that Korean prefer another brand of rich which is not produced in Pakistan. He said that Korea imports only five percent of its total consumption of rice.
He said that yarn export from Pakistan to Korea also declining due to yarn contamination. However consumption of Pakistani fabric is on rise in Korea. He advised business community to frequently visit Korea to apprise themselves about Korean requirement and try to meet their demand as well as standards to boost export from Pakistan.
He pointed out that during 2007-08 Pakistan exported goods worth 490 million dollars to Korea and imported 650 million dollars which indicated that trade gap between two countries have narrowed down to some extent. President KCCI Anjum Nisar said Korea is an advance country and it can help Pakistan by establishing power generating units in joint ventures.