The EPA, a broader agreement than a traditional free trade deal, aims to deepen economic ties between the two nations. Pakistan, with its strategic location bordering China and India, is seen as a crucial market in the evolving Asian economic landscape.
The inaugural round of talks took place at the Lotte Hotel in Seoul, led by South Korean Trade Minister Cheong In-kyo and Pakistan's Federal Commerce Minister Jam Kamal Khan.
Both sides expressed optimism about expanding cooperation in key sectors, including digital technology, information technology, and the automotive industry.
The South Korean trade ministry emphasized the EPA's potential to open new export markets while supporting Pakistan's economic growth through increased trade and investment.
"The importance of free trade agreements is growing amid heightened uncertainties, including changes in the U.S. trade environment and the weakening of the World Trade Organization's multilateral trading system," Cheong said during the launch ceremony.
Cheong added that South Korea would continue to prioritize expanding its trade network, with a particular focus on emerging markets.
Copyright ⓒ Aju Press All rights reserved.
