Seoul: South Korea and Pakistan discussed ways Thursday to accelerate negotiations on a bilateral comprehensive economic partnership agreement (CEPA) to boost trade and investment, Seoul's trade ministry said. Trade Minister Yeo Han-koo and Pakistan's Commerce Minister Jam Kamal Khan held a virtual meeting to explore ways to expand economic cooperation.

According to Yonhap News Agency, the Ministry of Trade, Industry and Energy reported that the two sides agreed to proceed with detailed discussions in an initial round of negotiations, though no schedule was disclosed. Yeo also requested support from the Pakistani government to help create a more favorable business environment for South Korean companies seeking to invest or expand operations in the country.

Pakistan, with a population of around 240 million, is the world's fifth-most populous country and is considered a strategic hub linking the Middle East, Central Asia, and South Asia. Bilateral trade between South Korea and Pakistan stood at about US$1.57 billion last year.