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S. Korea, Pakistan to strengthen railway, hydropower cooperation

All Headlines 16:52 December 04, 2012

SEOUL, Dec. 4 (Yonhap) -- South Korean President Lee Myung-bak and Pakistan's President Asif Ali Zardari agreed Tuesday to bolster all-round economic cooperation between the two countries, especially in the areas of railways and hydropower, the presidential office said.

Zardari arrived in Seoul on Monday for a three-day official visit, and held summit talks with Lee with a focus on strengthening cooperation in trade and investment, infrastructure construction, energy and development assistance, the office said.

The two sides signed two memorandums of understanding, one calling for Pakistan to provide supportive measures for South Korean aid projects to the country and the other calling for cooperation in railway modernization and related projects in Pakistan.

Lee and Zardari noted that trade between the two countries climbed to US$1.56 billion last year following a fall in the wake of the 2008 global economic crisis, and that South Korean firms are getting actively involved in infrastructure, chemical and other projects in Pakistan, the office said.

Zardari expressed gratitude for South Korea's official development aid to the country, and South Korea agreed to help Pakistan draw up a national development plan, known as the "Country Partnership Strategy," by the first half of next year, the office said.

Zardari also offered congratulations to South Korea on its election as a non-permanent member of the U.N. Security Council and the two countries agreed to strengthen cooperation at the global body. Pakistan also holds membership on the council.

jschang@yna.co.kr
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