ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin, here on Tuesday said that Pakistan was looking forward to further strengthen bilateral relations with Korea and promote trade and investment linkages between the two countries.
During a meeting with Ambassador of the Republic of Korea, Suh Sang-Pyo, who paid a courtesy call on him, Tarin thanked Korea for the three-year framework arrangement under which $500 million are being provided for projects in IT, education and health.
Both sides exchanged views on economic potential and stressed the need to further promote mutual trade and investment linkages, according to press statement issued by the Finance Ministry.
The finance minister expressed the desire of increasing exports to Korea and briefed the Korean ambassador about the recent economic developments and initiatives.
“The government aims at achieving an all-inclusive and sustainable economic growth with key focus on a bottom-up approach,” he said, adding that the government had chalked out short, medium and long term plans to spur growth in key priority areas.
Furthermore, he said, the government was coming up with a comprehensive policy for expansion of auto industry in Pakistan by increasing the production of cars, motorcycles, tractors etc.
He said, the government was determined to encourage and incentivise foreign investors who were keen to undertake investment ventures in respective fields.
The government also stands committed to revive the business and industry that has been hit hard due to coronavirus pandemic.
Tarin said the ultimate focus was employment generation, efficient resource mobilisation and industrial growth.
Moreover, he welcomed plans by Samsung to start cell phone assembly in Pakistan and promised full facilitation in this regard.
On the occasion, the Korean ambassador thanked the finance minister for his time and underscored the importance of people-to-people contact between the two countries.
He also highlighted potential for furthering cooperation in hydropower generation and stated that Korean companies are satisfied with the business environment in the country.
Shaukat Tarin affirmed full support and cooperation on the occasion.
