Global Rice News

‘Young Pakistanis Can Contribute to the Korean Economy’

By Kim Hyun-bin

Pakistani Ambassador to Korea, Nabeel Munir, has emphasized the significant untapped economic growth potential between Korea and Pakistan. Ambassador Munir highlighted the wealth of skilled labor available in Pakistan, presenting a promising solution to Korea’s low birthrate challenge. He stressed the importance of economic collaboration, particularly in trade, investment, science, and technology, and highlighted the potential for Korean companies to tap into Pakistan’s youthful population for skilled labor and collaboration in various sectors.

Ambassador Munir stated, “(Korea) has a declining population. Pakistan has a different problem. Sixty-five percent of those 240 million are young people. They are between 19 and 35, so those youths can be used by the Korean economy because they’re educated and trained.” He further added, “We have graduates from one of the largest technology universities in the world. So, many young people are graduating in the IT and related fields, and these individuals can contribute to the further development of the Korean economy.”

The ambassador emphasized the significant opportunity for bolstering trade between the two nations. Currently, trade between Korea and Pakistan stands at around $1.1 billion, but there is immense untapped potential for further growth. Munir highlighted the positive impact of Korean investments in Pakistan, citing examples such as Samsung’s smartphone manufacturing facility and KIA’s success in the automobile market. He mentioned that KIA became the third-largest selling car company in Pakistan, overtaking Honda, 18 months ago.

In terms of future prospects, negotiations for an Economic Partnership Agreement (EPA) are underway between Korea and Pakistan. This agreement aims to enhance trade relations by providing preferential tariffs for both Pakistani and Korean exports. Ambassador Munir mentioned that talks are focused on addressing challenges such as high tariffs on certain products like basmati rice in order to facilitate smoother trade relations.

The majority of products imported to Korea from Pakistan consist of agricultural goods, notably mangoes. The ambassador expressed hope that Koreans would develop a preference for Pakistani mangoes once they get a taste for them. Munir also highlighted the growing cultural and economic ties between Pakistan and Korea, emphasizing the significance of people-to-people connections that date back over 1,000 years.

He mentioned that Pakistan has excellent tourist opportunities, with traditional old Buddhist religious sites, beautiful mountains, and scenery. Munir also pointed out that there are currently almost 3,000 to 3,500 Pakistani students studying in Korea, and 4,000 Pakistanis work in Korean industries under the employment permit system.

Ambassador Munir shared his priorities which include improving trade and investment, enhancing political contexts, and increasing the number of people visiting each other’s countries. He expressed his affection for Korea and shared his appreciation for Korean cuisine and cultural traditions, which resonate with his Pakistani heritage.

Source: Korea Times