Pakistan and Turkey to widen trade relations

LAHORE: Pakistan and Turkey need to promote cooperation in agriculture, industrial, trade, science and other sectors focusing on technological advancement. The consensus was developed at a meeting between 30-member Turkish delegation and the Executive Committee Members of Lahore Chamber of Commerce and Industry on Saturday.
LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad, Vice President Sohail Azhar, Honorary Consul General in Lahore Mian Tajjamal Hussain, former LCCI presidents including Salahuddin Ahmad Sahaf and Bashir A Buksh and Secretary Commerce Fazal Abbas Maken also spoke on the occasion.
Both sides were of the opinion that warm relations between Pakistan and Turkey had not translated into trade and economic terms in the larger interest of the people of both countries. “Their visit to Pakistan provided an opportunity to Turkish delegates to gain first-hand knowledge about available business openings in Pakistan.”
The delegates stated their belief that both countries have marvelous untapped business potential that will only be realised by maximising the active involvement of private sectors. The Turkish delegates hoped that the economic relations between the two countries would be bolstered and develop a mutually beneficial relationship between Pakistan and Turkey.
In his address, the head of Turkish delegation and Vice President Business Tuskon Federation Dogan Kaynak emphasised the great affection that Turkish people attach hold for Pakistan, considering it their second home and one of the ways they expressed their solidarity with their Pakistani brothers and sisters was by celebrating Eid in Pakistan.
He said that the Turkish people in general and the business community in particular would continue to support Pakistan in the long term. He added that delegates during their visit to Pakistan received very elaborate information on prospective business opportunities and would be coming back with good investment proposals.
Speaking on the occasion, LCCI President Shahzad Ali Malik thanked the Turkish delegation for celebrating Eid with flood victims in Pakistan. He claimed that the LCCI was taking immediate and concrete steps to enhance the volume of trade between the two countries from its current level of $663 million to the benchmark of $2 billion dollar benchmark.
He said that to achieve the target would need concerted and collaborative efforts on the part of both trading partners. Shahzad Ali Malik said that trade links with Turkey will be enhanced this year; the goal being to develop a foothold in Turkey and strong links with local businessmen who have extensive contacts in Europe, North Africa and Middle East.
The LCCI president said that the LCCI through its independent efforts was continuously working on its agenda of forging closer cooperation between Turkey and Pakistan. To supplement these efforts, the Turkey – Pakistan Business Council has been established through the signing of an agreement with Turkey’s Foreign Economic Relations Board.
He said that the MoU signed between the Lahore chamber and Istanbul Chamber of Commerce and Industry needs to be reinforced. The LCCI President also lauded the efforts undertaken by Chief Minister Punjab Mian Shahbaz Sharif for strengthening the linkages among the business communities of Turkey and Pakistan. He said that the role of Punjab Board of Investment and Trade (PBIT) is quite exemplary as exemplified through the organisation of conferences like those held in April 2010 in Lahore where over 200 leading CEOs of both countries participated to explore avenues of investment for Turkish companies in Punjab.
Shahzad Ali Malik said that Pakistan was in dire need of Turkish expertise in food processing and agriculture sectors. The LCCI president said that in the wake of recent floods, the country was going to have to engage in massive reconstruction of infrastructure, bridges and road networks in devastated areas, thus providing an excellent opportunity to Turkish construction companies who would find ample opportunities to collaborate with Pakistani businessmen.
Earlier, the LCCI signed an MOU with ANEED (Anatolian Businessmen Federation) working under the aegis of Business Tuskon Confederation. ANEED is a Turkish federation committed to making a valuable contribution to the nation’s economic development through promotion of trade and industry.