ISLAMABAD: Pakistan and South Korea held third round of the Joint Trade Committee meeting on Wednesday to discuss avenues to expand the bilateral trade and investment linkages, the Ministry of Commerce said in a statement.

The issues faced by Korean companies operating in Pakistan were raised in the meeting and the Pakistani side assured complete facilitation in resolution of all outstanding issues.

The prospects of a Free Trade Agreement was also discussed. Investment opportunities were also highlighted with reference to the successful experience of Korean auto companies, as well as pointing out the opportunities in cellular and electric vehicle policies announced by the government. Besides, investment opportunities in textiles were also highlighted.

The next round will be held in 2022. Both sides agreed to work towards “extending the validity of the existing memorandum of understanding on Trade and Investment Cooperation with requisite modifications to cater to the new trade and investment environment.

Published in Dawn, January 7th, 2021