PRESIDENT FOR ENHANCED TRADE WITH SOUTH KOREA AND ALGERIA
PR No. 08/2022
Islamabad, 13 January 2022: President Dr Arif Alvi has said that Pakistan highly values its relationship with the Republic of Korea and wants to further enhance collaborations for promoting political, economic, people-to-people, and cultural relations. He emphasized the need for proactive measures to increase the quantum of trade between the two countries. The President made these remarks while talking to the Ambassador-designate of Pakistan to the Republic of Korea, Mr Nabeel Munir, who called on him, at Aiwan-e-Sadr, today.
Talking to the Ambassador-designate, the President highlighted that Pakistan was a key investment destination for foreign investors in view of its investor-friendly policies and improved business environment. He asked the Ambassador to urge Korean investors to invest in different sectors of the Pakistani economy, particularly in the Special Economic Zones and CPEC projects. He said that both countries had great scope for promoting religious tourism as Pakistan possessed a number of historic Buddhist religious sites and religious tourists from Korea needed to be encouraged to visit Pakistan. The President appreciated the assistance and cooperation extended by the EXIM Bank of South Korea for initiating work on the construction and establishment of the Information Technology Park, at the cost of USD 88.80 million, in Islamabad. He welcomed the recent launch of the Samsung Mobile Phones Manufacturing Unit in Pakistan, being established in Karachi. The President also underscored the need to encourage the exchanges of Parliamentary Friendship Groups of the two countries to further boost bilateral cooperation.
Later, the Ambassador-designate of Pakistan to Algeria, Dr Muhammad Tariq, also called on the President. The President said that Pakistan and Algeria enjoyed cordial relations based on a common religion and cultural values. The President stated that Pakistan had a vibrant IT sector and underscored the need for increasing collaboration between the two countries in the field of IT. He asked the ambassador to work for further promoting bilateral relations by arranging the exchange of Parliamentary and Chamber of Commerce delegations between the two countries. He also proposed to set up a Joint Business Council to improve bilateral trade between Pakistan and Algeria.