TAXILA: South Korean Ambassador Suh Sangpyo has said his country was keen on enhancing manpower export to Pakistan increasing cooperation in the energy and information technology (IT) sectors to boost trade and economic relations.

Talking to journalists, Mr Sangpyo said Korea had increased manpower export from Pakistan from 1,500 to 2,500 per annum.

“I have proposed to the Korean government to additionally incorporate the construction sector as a viable occupation alongside the existing manufacturing sector within the employment permit system to employ more Pakistani workers,” he added.

Mr Sangpyo said diplomatic relations between the two countries were based on bilateral diplomatic and trade ties that had deep roots in history and the Korean government was keen on enhancing its contribution in trade, investments, education, culture and sports.

The envoy said Pakistani stakeholders should reinvest $1,000 million, which was provided by the Korean government under Framework Arrangement (2022-26), for execution of various development projects in health, communication, agriculture and energy with a special focus on information technology.

He said as Pakistan’s economy had faced much tide in recent years, therefore, keeping in view the Korean model, the amount should be re-invested to benefit from this multi-million package to stabilise and reshape the economy.

The envoy said the Korean government was providing assistance to set up an IT park in Pakistan to train IT professionals in the country, adding that construction of this park was one of the key projects of the Economic Development Cooperation Fund of the South Korean government.

“Apart from this, the number of Pakistani students enrolled in Korean educational institutions is increasing with each passing day,” he said, adding that establishing a manufacturing unit of smart phones in Pakistan by a Korean company would further strengthen economic and trade ties between the two friendly countries.

He said that the Pakistani business community should explore more trade opportunities in Korea to strengthen trade besides overcoming their trade deficit as Pakistan imports South Korean products worth $1.5 billion each year while its exports stand at $400 million.

These figures are proof of the fact that it is causing a bilateral trade deficit of approximately $1.1 billion and the Korean government is willing to facilitate Pakistani exporters of goods and services to bridge the gap, he added.

Over the past 60 years, South Korea has increased its gross domestic product (GDP) by 410 fold and Pakistan should join hands with the Korean government to follow this role model.

Published in Dawn, December 26th, 2022