LAHORE  - Punjab Chief Minister Muhammad Shahbaz Sharif has said the exiting strong friendly relations between Pakistan and Korea need to be transformed into strong trade and economic bonds. There is need to increase trade volume between Korea and Pakistan as well as exchange of business delegations between the two countries, he said while talking to Korean Ambassador to Pakistan Song Jong-hwan who called on him here on Friday.

During talks matters of mutual interest came under discussion and an understanding was reached to strengthen economic and trade relations between Korea and Pakistan.

The Chief Minister said that Korea has made rapid progress in a very short period of time and Pakistan wants to benefit from Korean expertise and experience. He said that Korea achieved remarkable progress by following the development programme of Pakistan and the Korean trade with other countries has exceeded beyond one trillion dollars. The speedy progress made by Korea is a role model for the world and Pakistan wanted to establish strong economic and trade relations with it. He said the government would welcome cooperation of the Korean companies in the energy, infrastructural development and other sectors, where the government has announced huge incentives and facilities for the foreigners. The CM also invited the Korean companies to invest in Quaid-e-Azam Solar Park in district Bahawalpur and the Apparel Park near motorway He said these projects in energy and textile sector are of vital importance and being executed by the government expeditiously. He said that Korean companies can also make investment in hydel and coal-based power projects as there are vast opportunities of investment in both these sectors and the government is offering special incentives for this purpose.

Speaking on the occasion, Korean Ambassador expressed the desire to promote economic and trade relations with Pakistan and said that the volume of trade between the two countries should be further increased. He said that Korean companies want to invest in Pakistan especially in Punjab.