Pakistan attaches immense importance to its economic ties with South Korea: NA Speaker

F.P. Report

ISLAMABAD: Speaker National Assembly Raja Pervaiz Ashraf Monday said that Pakistan attached immense importance to its economic ties with South Korea and desired to further deepen the existing relations through enhanced parliamentary and economic cooperation.

“Pakistan and Korea are enjoying long-standing relations which are based on decades-old economic partnerships” he said, while talking to Ambassador of South Korea to Pakistan Suh Sangpyo who called on Raja Pervaiz Ashraf. Matters pertaining to bilateral relations, and key regional and international issues were discussed in the meeting, said a news release.

While recalling the visit of the members of Korea-Pakistan Parliamentary Friendship Group to Pakistan from August 22-25, 2022, the Speaker said that Pakistan gave immense value to its relations with the Republic of Korea (ROK).

Speaker said that Korea had achieved exceptional economic and industrial progress due to the farsighted and dedicated Korean leadership. He said that there were huge opportunities for investment in various sectors in Pakistan. He added that Korean companies could further invest in Pakistan’s lucrative market, especially in the fields of business, communication, energy, infrastructure and Information Technology.

Speaker while talking about the unprecedented catastrophe caused by recent devastating floods in Pakistan apprised that National Assembly in collaboration with Inter-Parliamentary Union had hosted 3rd Regional Seminar for the Parliaments of Asia Pacific Region on Achieving the Sustainable Development Goals from September 13-14, 2022 to highlight the vulnerabilities of developing countries especially the countries of the Asia-Pacific region from the ever-intensifying impacts of global climate change.

He said that being a member of the Asia Pacific region, the Parliamentary delegation of Korea also actively participated and assured their all-out support in raising the issue of climate change on international forums. He said that an emergency resolution will be presented in the context of the devastating floods in Pakistan in the next meeting of the Inter-Parliamentary Union (IPU) in Rwanda.

The objective of this resolution is to present a forceful demand that developed countries must compensate for irreparable socio-economic losses due to climate change in developing countries, he added.

He appreciated the Korean government’s generous support for the relief and rehabilitation efforts for the flood affectees in Pakistan that has left millions homeless across the country. Speaker also accepted the invitation extended by the Ambassador to participate in the 40th anniversary of establishment of diplomatic ties between the two countries.

Ambassador of the Republic of Korea to Pakistan Suh Sangpyo said that ROK also considered Pakistan one of its close friends and an important economic partner. He said that Korean investors were eager to explore and further invest in Pakistan for the mutual benefit of both countries. He assured his country’s all-out support to Pakistan at regional and international forums regarding the issue of climate crisis being induced in Pakistan by the developed countries responsible for CO2 emissions.

He expressed gratitude for accepting the invitation by the Speaker to participate in the 40th anniversary of diplomatic ties between both countries. (APP)