Pakistan, South Korea agree to speed up CEPA talks amid renewed trade push

Pakistan and South Korea have agreed to fast-track negotiations on a Comprehensive Economic Partnership Agreement (CEPA), officials said on Friday, signalling fresh momentum in efforts to expand bilateral trade and investment.

The decision was reached during a virtual meeting between Commerce Minister Jam Kamal Khan and South Korean Trade Minister Yeo Han-koo, with Secretary Commerce Jawad Paul and senior officials from both sides in attendance.

The two sides agreed to intensify technical-level engagement and work towards concluding the agreement within a mutually agreed timeframe. Both ministers stressed that the CEPA should be ambitious but balanced, reflecting the economic conditions and priorities of each country.

Secretary Commerce Jawad Paul said Pakistan is pushing for a development-sensitive framework, particularly in tariff liberalisation. He noted that an asymmetrical arrangement would better accommodate Pakistan’s economic structure and help ensure broader domestic support. He added that technical teams are continuing inter-ministerial consultations and will soon share feedback on outstanding chapters.

Pakistan highlighted export opportunities across sectors including textiles, agriculture, pharmaceuticals, surgical instruments, sports goods, and mining. Jam Kamal Khan said shifting global trade patterns make diversification essential, adding that Pakistan’s location positions it as a gateway to Central Asia and Africa.

The South Korean side pointed to growing interest from its companies in entering Pakistan’s market, especially in manufacturing and energy. Yeo Han-koo said a structured agreement like CEPA would help boost investor confidence and facilitate deeper economic engagement.

Jam Kamal assured that concerns raised by Korean firms already operating in Pakistan would be addressed in coordination with relevant ministries, reiterating the government’s commitment to a stable and business-friendly environment.

Both countries also agreed to revive efforts to operationalise a joint trade committee to ensure regular institutional coordination and follow-up on trade issues.

Separately, the Korean minister acknowledged Pakistan’s role in promoting peace amid ongoing tensions in the Middle East, saying such efforts support global stability. Jam Kamal responded that Pakistan remains committed to dialogue, noting that regional stability is critical for trade flows, energy markets, and economic connectivity.