ISLAMABAD, Mar 13 ( APP): Korean Ambassador Dr Song Jong-hwan
has said that his country’s government is providing some $500 million
under the 2015-2017 framework agreement to Pakistan through Economic Development Cooperation Fund (EDCF) for vaious projects from
hydropower to road infrastcure.
The Ambassador, in an interview, said that both the countries
were enjoying excellent bilateral relations since decades and “we
want an economically developed Pakistan in the time to come.”
“It is a matter of great pride for me to say that Pak-Korea
ties are reaching new heights. During my tenure as ambassador, the
Korean Prime Minister and the Speaker of the Korean National
Assembly visited Pakistan in 2014 for the first time in the
history,” he added.
The Ambassador said, “God has given Pakistan the second highest
mountain in the world as well as the deep sea like Indian Ocean and
Pakistan should take maximum benefits from them.”
“Pakistan is a blessed country having unique strategic
location, abundant natural resources, talented population, skilled
labour and a beautiful fertile land and all these reasons enough to
achieve economic development,” Dr Song Jong-hwan said.
He also stated that a number of grant projects were also
being undertaken in various parts of Pakistan by Korean International Cooperation Agency (KOICA), aid agency under the Korean Ministry of
Foreign Affairs.
Narrating the story of the Korean development, the Ambassador
said,”We faced a number of challenges like poverty after the
independence of Korea having only per capita income even less than
$80 in 1960.”
Korea, he said, was the first to change from an aid recipient
country to donor country in 2010 with per capita income more than
$28,000 having trade volume more than $ 1 trillion since 2011.
“This tremendous economic achievement and progress is called
the “Miracle of the Han River” and we want similar “Miracle of the
Indus River in Pakistan,” he wished.
“Korea is ready to help Pakistan in achieving “Miracle of the
Indus River” and it is my hope and prayer that this dream with the
help of Korea will come true.”
Regarding current level of two-way trade between the two
countries, Dr Song said that Korea was 15th largest trading
partner of Pakistan at present.
During the last two years this trade partnership after
touching the two-way trade volume at $1.6 billion in 2012 had
witnessed downward slide to $1.3 billion in 2013 and
further to $1.17 billion in 2014, he said.
To boost economic ties, he said both the countries had signed
a memorandum of understanding on “Trade And Investment Cooperation ”
in mid April 2014 during the visit of Prime Minister of Korea to
Islamabad and agreed to explore the possibilities of a Free Trade
Agreement (FTA).
Regarding interest of Korean companies for investment in
Pakistan, the Ambassador said that Korean companies and businessmen
were keen to enlarge their businesses in Pakistan.
Korean businessmen were frequently visiting Pakistan and were
impressed with huge potential of this country in the areas of
agriculture, mine/mineral, hydro ?and other alternative energy etc.
beside other areas, the Ambassador concluded.