Korea-Pakistan Industrial Collaboration Forum-2022 organized by Korean Trade & Investment Agency “KOTRA” in collaboration with the Small and Medium Enterprises Development Authority (SMEDA) and PAAPAM today at a local hotel has urged to enhance joint ventures between Pakistan and Korea in the SME sector. H.E. Sung Sangpyo, Ambassador of Korea was the Chief Guest on this occasion. Mr. Hashim Raza, CEO SMEDA, Mr. Kim Haksung, Korean Consul General, Karachi, Mr Sung Jae Kim, Director General KOTRA Karachi Office and a number of the CEOs of private sector companies including Mr. Sajjad A.K. Tareen, Mr Usman Sheikh and Dr. Naveed Arshad addressed the forum.
Ambassador Sung Sanpyo, in his address, informed that the government of Korea will increase Economic Development Cooperation Fund (ECDF) loans for Pakistan up to Dollar 1 billion for next five years (2022-26). With regard to industrial collaboration, he said, multiple projects were underway between Pakistan and Korea in the Automobile, Transportation, Hydropower, Smartphones and confectionaries. He said that SME sector would be the priority area in future for promoting trade and industry joint ventures in Pakistan. He advised KOTRA to maintain close coordination with Pakistan’s industrial development agencies including SMEDA, which is the apex government body for SME Development in Pakistan. He expressed deep gratitude to CEO SMEDA for the close coordination in holding Korea-Pakistan Industrial Collaboration forum-2022.
Earlier CEO of SMEDA Mr. Hashim Raza gave a detailed presentation on SMEDA’s SME development initiatives including PSDP Projects and the new SME policy that attracted special attention of the audience. He informed that during last 15 years SMEDA had invested Rs. 6.946 billion under PSDP to establish 35 common facility centers for SME development across the country. He told that new SME Policy had paved the way for easy trade and investment in SME sector. The SME Policy has reduced the regulatory burden with simplified taxation system and increased access to finance for SME sector, he said and added that ICT, Tourism, Horticulture, Construction, Fisheries, Livestock, light engineering, Minerals, Leather, Logistics and Textile industries have a vast scope for joint ventures in the SME Sector. He invited Korean investors and development agencies to focus on the given areas. He also acknowledged the cooperation of KOTRA and KOICA with SMEDA for boosting up knowledge and technology in SME sector. The Korea knowledge sharing program (KSP) 2014-15 have added value to the SME development strategy of Pakistan, whereas the KPS implemented in 2020-21 have supported in GVC of Automotive Industry in Pakistan, he said.
The other speakers of the Forum also called for the joint ventures between Korea and Pakistan to promote bilateral trade and investment.
The Korean Ambassador H.E. Sung Sangpyo also inaugurated the first Electric Rickshaw of Pakistan on this occasion.