Yeo Han-koo, South Korea’s minister for trade at the Ministry of Trade, Industry and Energy, held a video meeting on the 30th with Pakistan’s Commerce Minister Jam Kamal Khan to discuss ways to advance the Korea-Pakistan CEPA talks and expand bilateral trade and investment cooperation.
Pakistan, with a population of 240 million, is the world’s fifth-most populous country and a key potential market in Southwest Asia with abundant natural resources. It is also a strategic hub linking the Middle East and Southwest Asia. Still, bilateral trade remained limited, totaling $1.574 billion last year.
The two countries have laid the groundwork for negotiations since declaring the launch of CEPA talks and agreeing to terms of reference in January last year. They plan to accelerate negotiations starting with the first official round, which is scheduled to be held in the future, to expand trade and investment.
Yeo said, “For our companies to operate their businesses stably and expand investment, it is important to ensure predictable administration of institutions and create a friendly investment environment,” and asked for the Pakistani government’s attention and support.
He added that, following India and Bangladesh, CEPA talks with Pakistan would further strengthen South Korea’s trade network in Southwest Asia, and said the two sides would build a mutually beneficial foundation for cooperation through a CEPA with Pakistan, a hub connecting the Middle East, Central Asia and Southwest Asia.
* This article has been translated by AI.
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