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President Arif Alvi for enhanced trade with South Korea and Algeria

ISLAMABAD, Pakistan: President Dr. Arif Alvi has said that Pakistan highly values its relationship with the Republic of Korea and wants to further enhance collaborations for promoting political, economic, people-to-people, and cultural relations.

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Talking to the Ambassador-designate of Pakistan to the Republic of Korea Nabeel Munir who called on him at Aiwan-e-Sadr in Islamabad on Thursday, the president emphasized the need for proactive measures to increase the quantum of trade between the two Countries.

The president highlighted that Pakistan is a key investment destination for foreign investors in view of its investor-friendly policies and improved business environment.

President Arif Alvi asked the ambassador-designate to urge Korean investors to invest in different sectors of the Pakistani economy, particularly in the Special Economic Zones (SEZs) and China Pakistan Economic Corridor (CPEC) projects.

The president said that both Countries have great scope for promoting religious tourism as Pakistan possesses a number of historic Buddhist religious sites and religious tourists from Korea need to be encouraged to visit Pakistan.

The president appreciated the assistance and cooperation extended by the EXIM Bank of South Korea for initiating work on the construction and establishment of the Information Technology Park at the cost of US$ 88.80 million in Islamabad.

Dr. Arif Alvi welcomed the recent launch of the Samsung Mobile Phones Manufacturing Unit in Pakistan being established in Karachi.

The president also underscored the need to encourage the exchanges of Parliamentary Friendship Groups of the two Countries to further boost bilateral cooperation.

Later, the Ambassador-designate of Pakistan to Algeria Dr. Muhammad Tariq also called on President Arif Alvi.

The president said that Pakistan and Algeria enjoy cordial relations based on a common religion and cultural values.

President Arif Alvi said that Pakistan has a vibrant IT sector and underscored the need for increasing collaboration between the two Countries in the field of IT.

The president asked the ambassador to work for further promoting bilateral relations by arranging the exchange of Parliamentary and Chamber of Commerce delegations between the two Countries.

The president also proposed to set up a Joint Business Council to improve bilateral trade between Pakistan and Algeria.

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