ISLAMABAD: Pakistan and South Korea have agreed to advance negotiations on the Comprehensive Economic Partnership Agreement (CEPA) and to enhance investment cooperation.

This understanding was reached during a virtual meeting between Commerce Minister Jam Kamal Khan and his South Korean counterpart, Yeo Han-koo. Secretary of Commerce Jawad Paul and senior officials from both sides also participated in the meeting.

An official announcement said that at the outset, the Korean trade minister praised Pakistan’s role in promoting peace amid the current situation in the Middle East, stating, “Pakistan’s efforts to bring peace are better for the whole world, not just for the countries involved.”

Mr Kamal reaffirmed that Pakistan has acted as a responsible state in facilitating dialogue and promoting peace. He expressed hope that ongoing efforts would lead to stability in the region, which is vital for global trade, energy markets, and economic connectivity.

The two sides held detailed discussions on the ongoing CEPA negotiations, agreeing on the need to accelerate technical engagements and to conclude the agreement within a mutually agreed timeframe. Both ministers emphasised that the agreement should be ambitious, balanced, and reflective of their respective economic realities.

Highlighting Pakistan’s economic potential, Mr Jam underscored opportunities across multiple sectors, including agriculture, mining, textiles, pharmaceuticals, surgical instruments, and sports goods.

Mr Yeo noted that many Korean companies are keen to invest in Pakistan, considering it a safe and promising destination, particularly in the manufacturing and energy sectors. He emphasised that a structured framework like CEPA would further enhance investor confidence and facilitate greater economic engagement.

Regarding investment-related concerns, Mr Jam assured that the issues faced by Korean companies operating in Pakistan would be addressed in coordination with the relevant ministries. He reaffirmed the government’s commitment to providing a stable and conducive business environment for foreign investors.

Both sides also discussed the establishment of a Joint Trade Committee, agreeing to revive and finalise the mechanism to ensure regular institutional engagement and effective follow-up on bilateral trade matters.

Published in Dawn, May 2nd, 2026