Pakistan, South Korea Advance CEPA Talks

Pakistan and South Korea have agreed to engage on a Comprehensive Economic Partnership Agreement (CEPA) and expand trade and investment cooperation. Federal Commerce Minister Jam Kamal Khan and South Korean Trade Minister Yeo Han-koo held a virtual meeting to discuss strengthening bilateral trade ties. Both nations emphasized accelerating CEPA negotiations, aiming for an ambitious and balanced agreement. Pakistan highlighted its economic potential in sectors like agriculture, mining, textiles, pharmaceuticals, surgical instruments, and sports goods, positioning itself as a gateway to Central Asia and Africa. South Korea expressed interest in investing in Pakistan's manufacturing and energy sectors, viewing it as a promising destination. Both sides also agreed to establish a Joint Trade Committee to ensure regular institutional engagement and follow-up on bilateral trade matters. Pakistan's Secretary Commerce Jawad Paul stressed the need for a development-sensitive approach in tariff liberalization under CEPA.