Zardari offers FT and currency swap deals to Korea
The President said Pakistan attaches great importance to its relations with South Korea.
Seoul: President Asif Ali Zardari has offered Korea a Free Trade (FT) and a Currency Swap Agreement and proposed increased import of manpower from Pakistan.
He made the offer in his summit level meeting with President of the Republic of Korea Lee Myung-Bak in Seoul. The President said Pakistan attaches great importance to its relations with South Korea in the context of its Vision East Asia Policy.
President Zardari while highlighting the immense investment potential said Pakistan has huge coal reserves of about one hundred eighty- five billion tons‚ potential Hydel power‚ wind corridors and year round sunlight‚ which could be harnessed with Korean assistance by setting up coal fired power plants‚ dams wind farms and solar plants.
Highlighting huge investment opportunities the President urged the need for concerted steps on both sides including business community for bolstering the current trade volume of over 1.6 billion dollar between the two countries to a level of 5 billion dollars in the next five years.
He also stressed the need for establishment of direct air links and strengthening of cooperation in the agriculture through overseas development assistance.
On nuclear issue‚ President Zardari reiterated that Pakistan supports a nuclear weapons-free Korean peninsula and six party talks.
On reforms in Security Council‚ he said reformed Security Council should reflect interest of the wider UN. He thanked Korea for the support to Pakistan on Human Rights Council of United Nations.
The Korean President said visit of President Zardari and his delegation would serve full opportunity to further solidify the already existing close bilateral relations. He assured that Korea would continue to extend all possible support to the government and people of Pakistan in every hour of need.
