Zardari offers free trade to Korea, seeks investment in Pakistan
Pakistan President Asif Ali Zardari has offered Korea a free trade and a currency swap agreement and has sought the country's investment in Pakistan.
Zardari made this offer in his summit level meeting with South Korean President Lee Myung in Seoul Korea, reports the Daily Times.
Zardari said Pakistan attaches great importance to its relations with South Korea in the context of its Vision East Asia Policy, adding that two countries also enjoy historical and cultural linkages spanning centuries.
He said Pakistan has huge coal reserves of about 185 billion tonnes, potential hydropower, wind corridors and year-round sunlight which, he said, could be harnessed with Korean assistance by setting up coal fired power plants, dams, wind farms and solar plants.
Zardari said his country was keen to take Pak-Korea bilateral trade ties to new heights and expressed hope that mutual interaction of businessmen and entrepreneurs of the two countries would help explore new avenues for investment and trade.
He urged for frequent exchange of business delegations, which, he said, was crucial for optimum utilisation of the huge trade potential available in the two countries.
Zardari offered an exclusive economic zone to the South Korean entrepreneurs near Karachi and urged them to benefit from the lucrative incentives offered by Pakistan to the foreign investors.
He also stressed the need for establishment of direct air links and strengthening of cooperation in the field of agriculture through Overseas Development Assistance (ODA).