Koreans ready for joint ventures in agriculture

South Korean investors on Monday showed interest for joint ventures in agriculture sector, as Pakistani mangoes have great demand in South Korean markets.A delegation of South Korean investors, led by Lee Jae Ho, visited Islamabad Chamber of Commerce and Industry (ICCI) for B2B meetings with Pakistani entrepreneurs having common interest in various fields. Speaking on the occasion, Lee Jae Ho identified a number of areas for mutual co-operation and said that there is a need for enhanced trade ties between Pakistan and South Korea as current volume of trade stood around $1.5 billion which is not up to the mark.Korean investors said that Pakistan and South Korea need to improve their commercial and economic relations to promote bilateral trade and investment by taking advantage of new business opportunities.Yassar Sakhi Butt, President ICCI, said that Pakistan being an agricultural country has an agricultural and canal infrastructure second to none and agriculture continues to play a central role in our economic growth, feeding domestic industry as well as an important source of foreign exchange earnings.He said that South Korea being an important trade partner and having advanced expertise in the field of agriculture could assist us in setting up joint ventures along with latest technology transfers and introduction to latest agriculture practices, saying that Korean investors could earn lucrative profits in Pakistan.Yassar Sakhi Butt said that Pakistan is home to a diverse number of tourist attractions which include very beautiful landscapes, ancient civilizations like Indus Valley and Gandhara civilization as well as Buddha sculptures. Therefore, tourism also offers huge business opportunities to foreign investors, he added.ICCI President urged the Korean investors to bring their capital and technology to Pakistan, establish joint ventures, share their experience and expertise, earn good profits and contribute to further strengthening bilateral trade and economic relations between Pakistan and South Korea.