UNGA Session: (PM meets President of Korea)September 27, 2015
ISLAMABAD: Prime Minister Nawaz Sharif met Korean President Ms. Park Geun-hye on the sidelines of the 70th UNGA Session in New York, says a press release received here on Monday from New York.
The two leaders expressed satisfaction at the positive trajectory of bilateral relations. Pakistan proposed to establish a mechanism for Strategic Dialogue at the Foreign Ministers level.
On trade and investment, the Prime Minister lauded the role of Korean investors in Pakistan and invited more Korean companies to invest in Pakistan in special economic zones, especially in the energy sector.
Current bilateral trade volume is around US$ 1.17 billion. To boost bilateral trade, a Free Trade Agreement is being explored. A pre-feasibility on the Pak-Korea FTA has already been commissioned and is expected to be completed by July 2016.
At the multilateral level, enhanced cooperation in the UN was discussed. As members of the Uniting for Consensus (UfC) group, both Pakistan and Republic of Korea have a convergence of views on UN reform, particularly on expansion of the UN Security Council.
The two countries agreed to coordinate closely to support each other’s candidatures for various UN bodies over the next few years. Both leaders also discussed the security situation in Afghanistan and Pakistan’s relations with India. On this occasion, the Prime Minister reiterated an invitation to the President of Republic of Korea to visit Pakistan which was accepted.