Turkiye wants to increase bilateral with Pakistan up to USD 5 billion

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Turkiye wants to increase bilateral trade with Pakistan up to USD 5 billion as both countries have good potential to increase two-way trade volume in many items.

This was said by Nurettin Demir, Commercial Counsellor, Embassy of Turkiye while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry.

He said that MUSIAD Expo would be held in Istanbul from November 2 to 5, this year and the Pakistani business community should take active participation in it to promote business linkages with counterparts of Turkiye and explore new avenues of promoting bilateral trade between the two countries.

He said that Turkiye and Pakistan could enhance bilateral cooperation in many fields including machinery & parts, pharmaceuticals, chemicals, tourism and agriculture.

He said that he could help the Pakistani business community in customs affairs for doing trade with Turkiye.

He was hopeful that a free trade agreement between Turkiye and Pakistan would be finalized soon after its ratification from the parliament of Turkiye that would help in increasing the volume of trade between the two countries.

Speaking at the occasion, President, Islamabad Chamber of Commerce and Industry, Muhammad Shakeel Munir, said that Pakistan and Turkiye were enjoying exemplary cordial relations that should be transformed into growing trade and economic relations between the two countries.

He stressed that the frequency of Pakistan-Tehran-Istanbul railway service should be increased for trade promotion as currently goods from Turkiye via third countries were reaching Pakistan in 45 days due to which the importers and exporters were facing problems.

He said that Pakistan had a lot of reserves of marble & granite and other natural resources and said that Turkiye should explore JVs in Pakistan in these sectors to achieve mutually beneficial outcomes.

Mian Shaukat Masud former President ICCI, Muhammad Azharul Islam Zafar, and others also spoke at the occasion and gave useful suggestions to promote trade ties between the two countries.

They urged to address language barrier issue for trade promotion between the two countries.

They said that Pakistan could export software products to Turkiye as it was already exporting these products to many other countries.

They also highlighted IT, construction and furniture as potential areas of joint ventures between the two countries.—APP

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