Islamabad—Pakistan and South Korea are likely to hold talks on Free Trade Agreement (FTA) in the first quarter of next fiscal year. Currently, bilateral trade between the two countries is around $1.1 billion and both sides expressed interest to further promote trade and investment relationship between the two countries.
During the visit of Minister for Commerce Engr. Khurram Dastgir Khan to Seoul last year, both the countries agreed to conduct Research Studies on feasibility of FTA. Now the studies have been completed in both the countries and recommendations have been sent to their respective governments. In a meeting here on Wednesday, between Commerce Minister Engr. Khurram Dastgir Khan and Korean Ambassador Dr. Dong-gu-Suh, both the high level personalities discussed matters of mutual interest and promotion of bilateral trade and commerce.
The minister further said that this agreement is part of series of agreements like FTA with Malaysia and Thailand and Preferential Trade Agreement with Indonesia, all stemming out of the progressive vision of the Nawaz Sharif government i-e East Asia outreach. The ambassador appreciated the efforts of commerce minister and the steps being taken towards promotion of Trade and Commerce and showed willingness to step up the cooperation in this regard.