Seoul: January 7, 2024:Federal Minister for Commerce Jam Kamal Khan arrived in South Korea for a three-day official visit aimed at boosting bilateral economic relations and fostering trade and investment opportunities.
Upon his arrival, the minister was warmly welcomed by officials from the Pakistani Embassy, the Trade and Investment Office (TIO), and the Pakistan Business Association Korea. A bouquet of flowers was presented to him, and the group marked the occasion with a commemorative photograph.
During the visit, Minister Khan is set to sign the Pakistan-Korea Economic Partnership Agreement (EPA), a landmark development expected to double the trade volume between the two countries. The agreement also aims to position Pakistan as a competitive destination for Korean manufacturing operations, leveraging the nation’s strategic location and lower production costs.
The minister’s itinerary includes meetings with the Korean Trade Minister, leading Korean investors, and representatives from K-EXIM Bank to discuss the expansion of financial cooperation. He will also engage with the International Economic Institute to explore strategies for attracting Korean industries to relocate operations to Pakistan.
The Pakistan Business Association Korea will play a pivotal role in facilitating dialogue between Minister Khan and the Pakistani business community in Korea. A gathering with Pakistani laborers in Korea is also planned to recognize their contributions and strengthen community ties.
This high-stakes visit reflects Pakistan’s commitment to fostering robust economic engagement with Korea and promoting sustainable trade and investment partnerships.
On 08 Jan 2025, Minister Jam Kamal Khan, commenced his official three-day visit to South Korea with a series of impactful meetings aimed at strengthening Pakistan’s economic ties with Korea. The focus of the visit is on advancing negotiations for the Economic Partnership Agreement (EPA), boosting bilateral trade, and attracting Korean investment.
Minister Khan engaged with Ko Kwang-hyo, Commissioner of the Korea Customs Service (KCS), to discuss enhancing customs cooperation. Both sides emphasized the importance of finalizing the pending Agreement on Mutual Assistance in Customs Matters, which is set to streamline trade processes and complement EPA negotiations.
Minister Khan met with Byung-Kwan (Bob K.) Kim, Chairman of the Korea Importers Association (KOIMA), to discuss expanding trade collaboration. He highlighted Pakistan’s macroeconomic recovery, including reduced inflation and interest rates, and invited Korean manufacturers to the Food Ag Exhibition in Lahore, scheduled for February 26–28, 2025. Chairman Kim appreciated Pakistan’s progress and encouraged Pakistani businesses to participate in the Korea Import Fair in July 2025.
The minister attended a lunch hosted by three former Korean ambassadors to Pakistan, who welcomed the initiation of EPA negotiations. They highlighted the agreement’s potential to attract foreign direct investment (FDI) and significantly enhance trade volumes. The ambassadors praised the minister’s role in expediting internal approval processes and strengthening bilateral ties.
The Pakistan Business Association Korea hosted a dinner in Minister Khan’s honor, attended by over 300 Pakistani businessmen. The minister apprised the attendees of the benefits of the EPA and assured the diaspora of government support in addressing their challenges. He emphasized Pakistan’s economic stabilization and the importance of their investment in the country’s growth. A shield was presented to the minister in recognition of his efforts.
The minister also met with CEOs of leading Korean firms. The CEO of Stardust Company expressed interest in investing in Pakistan, focusing on anti-counterfeiting technologies. Meanwhile, the CEO of STS Robotech presented robotics innovations for food production and shared his contributions to the Pakistani diaspora in Korea.
The first day of Minister Jam Kamal Khan’s visit laid a strong foundation for advancing Pakistan-Korea economic relations. Through high-level engagements and strategic discussions, the minister reinforced Pakistan’s commitment to fostering trade, investment, and long-term partnerships with South Korea.
