LAHORE: South Korean Ambassador to Pakistan Dr Song Jong Hwan on Wednesday said that Pakistan had all the required ingredients to grow like China which became a global economic giant in the past 35 years.

`I am sure that 10 years down the line, Pakistan will be a shining star on the world economic horizon`, he said while addressing a meeting at the Lahore Chamber of Commerce and Industry (LCCI).

He expressed hope that the volume of bilateral trade between Pakistan and South Korea was bound to increase as both governments were taking measures in this regard.

He urged the LCCI to arrange a business delegation to South Korea so that Pakistani businessmen could have firsthand knowledge about opportunities there.

LCCI President Ijaz A.

Mumtaz said the volume of trade between Pakistan and Korea was around $1.26bn in 2013 but in the following year, it came down to almost $1bn. `It was mainly because of the substantial decrease in imports from Korea in last two years,` he added.

`The imports dropped from $859 million to $658m.

Likewise, Pakistan`s exports also fell from $397m to $378m in the same period, he said, adding that although the worth of bilateral trade was still above $1bn, but there was a plenty of margin to improve it.