President Zardari offers exclusive economic zone for South Korean investors in Pakistan

President Asif Ali Zardari Tuesday offered to set up an economic zone exclusively for South Korean investors in Pakistan, state radio reported.

Speaking at a luncheon hosted in his honour by South Korean President Lee Myung Bak in Seoul on Tuesday‚ he said Pakistan enjoys great geo-strategic location in the region and offers the best opportunities for investors.

President Zardari asked the South Korean investors to seize the opportunity and make investment in Pakistan, radio Pakistan reported. He said bilateral trade has shown an upward trend and it stands at well over 1.5 billion dollars.

President Zardari said the two countries great potential and can achieve the target of five billion dollars in the next five years. He said Pakistan wants to benefit from the experiences of South Korea‚ which has achieved a splendid progress in a short span of time.

The President said although the Afghan war caused immense difficulties for Pakistan yet it is determined to carry the war on terror to its logical end. He said that rooting out of terrorism is vital for the progress and prosperity in the region.

The South Korean President said democracy is flourishing and rights of minorities are fully protected in Pakistan under the leadership of President Zardari. He expressed the hope that the visit of President Zardari to South Korea will further strengthen bilateral relations.

Earlier‚ in their meeting‚ the two Presidents agreed to further strengthen bilateral relations in all fields with special focus on trade and economy.

Meanwhile Pakistan and South Korea signed four Memorandum of Understanding (MoUs) in Seoul on Tuesday to promote cooperation in various fields. The MOUs pertain to establishment of a Liquefied Natural Gas terminal‚ acquisition of used diesel locomotives‚ cooperation in banking sector and cultural exchanges.

President Asif Ali Zardari witnessed the signing ceremony following his meetings with the heads of the respective organizations‚ including Samsung‚ Korea Rail‚ Bank of Korea‚ Wisdom Group‚ STX‚ and LOTTE.

Delegations of multinational companies Samsung and LOTTE led by their chief executives separately called on President Zardari in Seoul and discussed avenues to further promote their investment in Pakistan.

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Posted by Tahir Khan on Dec 4 2012. Filed under Latest News, National, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.