RAWALPINDI: Korean Ambassador Dr Suh Dong-gu on Tuesday expressed concern over drop in trade volume between the two countries as it used to be around $1.6 billion in 2012 but has now hit $1.1 billion.

`Power crisis, security situation and unavailability of trade related information are some of the factors which are responsible for low trade,` he stated this during his visit to Rawalpindi Chamber of Commerce and Industry (RCCI) to meet the traders from the region.

He was accompanied by the economic counselor Park Bongsu and the economic officer Park Seokwoo. The business community from the Rawalpindi region was also present on the occasion.

The Korean ambassador said the economic indicators were now showing good signs in Pakistan.

He, however, admitted that power crisis and security situation had improved remarkably.

`Macroeconomic indicators, foreign reserves and outlook are very much stable. The credit rating has changed from negative to positive and inclusion to the Morgan Stanley MSCI index is the good news for foreign investors,` he said.

`Korea is fully aware of the problems faced by Pakistan regarding business and my country will assist Pakistan in enhancing trade,` he said.

The envoysaid thathiscountry had been investing in Pakistan in different sectors including energy, infrastructure, hydel, IT and agriculture.

Value addition in fabric, cotton yarn and leather goods can help both countries to increase the bilateral trade volume. He also stressed the need for frequent exchange of trade delegations and ensured his full cooperation in this regard.

RCCI President Raja Amer Iqbal said that Pakistan is situated in a geographically important location and Korea must tap the Pakistani trade market.

`There is tremendous opportunity in Rawalpindi region to boost trade activities particularly in gems and jewelry, poultry, pharmaceutical, furniture, leather, marble, auto parts, food & health, information technology and mining,` he said.