Home / Knowledge / News / Textiles / Korean envoy to Pak stresses on textile sector partnership
Korean envoy to Pak stresses on textile sector partnership
24
Mar '15
Collaboration between the textile sectors of Pakistan and South Korea can give a boost to economies of both countries, the South Korean envoy to Pakistan said.

Ambassador of South Korea, Jong Song Hwan said this while speaking at the office of the Pakistan Textile Exporters Association (PTEA) in Faisalabad.

According to the envoy, Pakistan was the fourth largest cotton growing country, besides also being the eight largest textile and apparel exporting country, while Korea produced the best textile machinery.

“We can collaborate in the textile sector to give a boost to economies of both, Pakistan and South Korea”, he said.

He said Korea considers Pakistan as a priority investment and business destination and also expressed optimism that trade ties would get better as both governments were taking the required measures.

“The ambassador however also underlined on the need to broaden and diversify product lines of both countries through various initiatives,” Pakistan media reported.

He shared an opinion that lack of trade-related information was the biggest impediment to Korean investors investing in Pakistan.

Hwan suggested drafting a proper sector-specific strategy, which could identify challenges coming in the way of trade between the two countries.

“However, all-out efforts are being made to increase interaction between industry of both countries to hike trade volumes,” he added.

Speaking earlier, PTEA chairman Sohail Pasha expressed concern over the low volume of trade between the two countries.

He underscored the need for finding the main causes of shrinking trade, identify weaknesses and devise a strategy which must focus on trade and economic expansion.

He requested Korean investors to invest in various sectors of Pakistan which would prove favourable for the investors as well as the Pakistan economy and generate additional jobs.

He added, “Bearing in mind that the Korean economy runs into trillions of dollars, there is still a lot of space to increase investment and trade relations between the two countries.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search