MABAD (APP) - Pakistan and Korea Thursday agreed to cooperate and assist each other for establishing local manufacturing capacity and promotion of energy efficiency products in Pakistan.
In this regard, a Memorandum of Understanding (MoU) was signed between Ministry of Environment and Well Communication Co.
government of Korea.
Minister for Environment, Hameed Ullah Jan Afridi presided over the signing ceremony.
As per MoU, both the countries would establish and develop close relationship for the promotion of energy efficiency products chiefly LED light, Solar Panel, and Wind Mill blade as the environment friendly future lighting solution and energy efficiency investment in Pakistan.
The investor company would also explore local market for solar panel manufacturing alongside wind mill blades production for promoting alternative energy in Pakistan.
Ministry of Environment and Korean company would make their best efforts to promote this partnership as a joint venture.
The MoU was signed by Farid Ullah Khan, Managing Director, ENERCON and Dae Woo, Kim, Chairman/CEO, Wells Communication Co.
In his comments, Hameed Ullah Jan Afridi said Pakistan welcomes Korean friends.
He said global warming is a major threat for whole world and at this stage, we acknowledge the initiatives taken by Korean company.
We hope through this MoU, progressive activities would be generated and fruitful results would come out. I assure all possible support would be provided by government of Pakistan, he added. Secretary, Ministry of Environment, Kamran Lashari, Joint Secretary Ministry of Environment and other members of Korean company were present.