Islamabad: Federal Minister for Commerce Jam Kamal Khan held a virtual meeting with Yeo Han-koo, Trade Minister of South Korea, to discuss strengthening bilateral trade ties, advancing negotiations on the Comprehensive Economic Partnership Agreement (CEPA), and enhancing investment cooperation between the two countries. Secretary Commerce Jawad Paul and senior officials from both sides also participated in the meeting.
According to Press Information Department, the Korean Trade Minister lauded Pakistan’s leadership role in promoting peace amid the current Middle East situation. He appreciated his past visits to Pakistan, noting the country’s hospitality and potential. In response, Jam Kamal Khan reaffirmed Pakistan’s commitment to facilitating dialogue and promoting peace, expressing hope for regional stability.
The discussions focused on CEPA negotiations, with both sides agreeing on the need to accelerate technical engagements to conclude the agreement within a mutually agreed timeframe. The ministers emphasized that the agreement should be ambitious and balanced, reflecting their economic realities.
Jam Kamal Khan highlighted opportunities across multiple sectors in Pakistan, emphasizing the importance of trade diversification and Pakistan’s strategic location as a gateway to Central Asia and Africa. The Korean Trade Minister noted Korean companies’ interest in investing in Pakistan, particularly in manufacturing and energy sectors, and emphasized that CEPA would enhance investor confidence.
Jam Kamal Khan assured that investment-related concerns of Korean companies in Pakistan would be addressed. Both sides also discussed the establishment of a Joint Trade Committee to ensure regular engagement on bilateral trade matters.
Secretary Commerce Jawad Paul highlighted the need for a balanced approach in tariff liberalization under CEPA, stressing an asymmetrical arrangement to accommodate Pakistan’s developmental needs. The meeting concluded with optimism about the future of Pakistan-South Korea economic relations.