ISLAMABAD - Federal Minister for Commerce, Engr. Khurram Dastgir Khan has departed for South Korea on Sunday on a two-day visit to hold talks to boost bilateral trade and investment between the two countries.

The Minister will meet his Korean counterpart Yoon Sang-Jick, Minister for Trade, Industry and Energy to commence feasibility studies for the proposed Pak-South Korea Free Trade Agreement. The Minister will also lead Pakistani side in the Pak-South Korea Joint Trade Committee meeting which will propose mechanism to enhance bilateral trade between the two countries.

During the visit the Minister is scheduled to meet several key Korean officials and heads of private sector organizations that have the potential to invest in Pakistan. The Minister will hold meetings with leaders of Korea Chambers of Commerce and Industry, Korea Importers Associations, Korea Exim bank, Korea Trade-Investment Promotion Agency, Korean Air, Korea Trade Insurance Corporation and CEOs of large Korean Multinationals.

Minister for Commerce said that South Korea has a lot to offer to Pakistan in terms of trade facilitations and investments and the commencing of feasibility studies and inaugural meeting of Joint Trade Committee would be the right step to increasing our bilateral trade. The Minister also expressed his firm resolve that the proposed FTA will be signed after thorough research keeping in view the interests of all the stakeholders.

He expressed hope that the new Agreement will open windows of opportunities in several emerging sectors of the country.

Bilateral trade between Pakistan and South Korea stands at US$ 1.72 billion with Pakistani exports worth US$ 402 million which has a great potential to grow.