KOTRA Hosts '2022 Han-Pakistan Industrial Cooperation Forum'

KOTRA

[Asia Economy Reporter Jin-ho Kim] KOTRA announced on the 18th that it will hold the ‘2022 Korea-Pakistan Industrial Cooperation Forum’ to assist Korean SMEs in entering the Pakistan market and to discover industrial cooperation opportunities between companies of the two countries.

Composed of a local forum and online consultation sessions, this event was organized to support Korean companies in collaborating with Pakistani companies to enter Pakistan’s new industrial markets, such as the automotive and electric vehicle industries and the green energy industry, which the Pakistani government is focusing on fostering.

Pakistan, a huge market with a population of 230 million, has seen active entry of global automakers establishing local assembly production bases, rapidly expanding the demand for localization of parts. However, local parts manufacturers have limited experience as first-tier vendors for automakers, making cooperation with overseas companies essential to develop manufacturing technology capabilities.

The Pakistani government recently announced a new ‘Automotive Industry Development and Export Plan.’ Going forward, it emphasizes ▲significant strengthening of support for eco-friendly vehicles ▲promotion of compact cars ▲localization of production ▲development of electric and hybrid vehicle technologies, and it is expected that demand for cooperation with related Korean companies will increase further.

At the forum, the Pakistan Small and Medium Enterprises Development Authority (SMEDA) will introduce the status of Pakistani SMEs and mid-sized companies by major industries and the fields in which they hope to cooperate with Korea. Additionally, local companies will present cooperation plans in promising sectors such as electric vehicles, IT, and renewable energy.

Furthermore, from the 23rd for three days, a one-on-one video consultation session involving 28 Korean companies will be held to strengthen global cooperation with domestic companies in Pakistan’s promising manufacturing sectors, including internal combustion engine vehicles, electric vehicles, and renewable energy.

Bin Jun-hwa, head of KOTRA’s South Asia Regional Headquarters, said, “Interest in cost-effective Korean automobiles is increasing, and renewable projects such as solar power are growing, making this the right time to enter Pakistan’s promising industrial sectors,” adding, “We will actively support our SMEs to smoothly enter new markets.”

This content was produced with the assistance of AI translation services.