Karachi Chamber of Commerce & Industry (KCCI) has suggested the Seoul Chamber to form Karachi-Seoul Joint Chamber of Commerce & Industry on the pattern of Pakistan-Afghanistan Joint Chamber, formed last year to enhance the bilateral trade from existing $ 1.3 billion to $3 billion in next few years. The suggestion was made by Mian Abrar, Presdient KCCI While exchanging views with the Ambassador of South Korea to Pakistan H.E. Choong Joo Choi, here at KCCI office on Thursday. The president KCCI urged both governments to expedite negotiations to sign Free Trdae AAgreement . He also enlightened the Ambassador about the key role of Karachi Chamber in the socio-economic development of Pakistan and informed about the aims of KCCI to develop regional trade. He urged the Ambassador to suggest and convince the Seoul Chamber to form Karachi-Seoul Joint Chamber of Commerce & Industry. He further requested the Ambassador to invite business delegation and exhibitors to participate in the Karachi Chamber’s My-Karachi Oasis of Harmony Exhibition scheduled to be organized in July 2012. Mian Abrar Ahmad expressed that Pakistan is the most promising country for investment by Koreans; immense opportunities exists to enter into joint ventures in Pakistan in the alternate energy, agriculture and engineering sectors. While exchanging views with the Ambassador of South Korea to Pakistan H.E. Choong Joo Choi, he was of the view that owing to Pak-Korea great trade potential the recent trade of about $1.3bn may incline to $2~3bn while effectively tapping the existing true potential. He asserted upon the need of building trading blocks of Pakistan with Asian countries, Central Asian Republics and SAARC countries. He focused that the regional trade will uplift the economy of Pakistan new horizons. He was of the firm opinion that Pakistan must not rely on aid and remittances. He was of the view that the aids received from USA and Western World never spent to boost the economy and the benefit of masses. He lamented that Pakistan was never allowed economic independence and liberty by the developed countries which they allowed to other countries in the region. It is learned that Lotte the Korean giant in Pakistan was further expanding its business while companies in steel sectors were also interested in invest in Pakistan.
