Lahore Chamber of Commerce and Industry and Turkish Embassy to establish a new mechanism to expedite trade between the two countries
Lahore, October 30, 2013 (PPI-OT): The Lahore Chamber of Commerce and Industry and Turkish Embassy Wednesday decided to establish a new mechanism to expedite trade between the two countries.
The decision was made at a meeting between the Turkish Ambassador S. Babur Girgin and the LCCI President Engineer Sohail Lashari. LCCI Vice Presiden Kashif Anwar also spoke on the occasion.
The Ambassador said that the very objective of putting in place a new mechanism was to translate the potential between the two countries.
The Ambassador urged the LCCI President to establish a Turkey desk at the Lahore Chamber of Commerce and Industry so that the trade related information could be passed on to the Pakistan’s business community. He also invited the LCCI President to sign MOU with Istanbul Chamber of commerce and Industry.
He said that a direct flight between Lahore and Istanbul would start in month’s time that would prove a giant leap towards enhancing bilateral trade relations.
“Turkey believes in Pakistan as it is the country of future.”
The diplomat expressed the optimism that Pakistan energy crisis would be over soon as it has a lot of potential and its people are very hard working.
The Turkish Ambassador hinted at more investment in transport sector in coming years.
Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that Turkey is an inspiring example for the world as far as its economic progress is concerned.
He said that Turkey has always helped Pakistani people generously in every hour of trial. He said that although Pakistan and Turkey are two independent countries yet hearts of people of both the countries beat together. “It will not be wrong that both nations are one body and two souls,” he remarked. Metro bus project is a shining example of Pakistan-Turkey friendship.
He said that this project has been completed in a short period with the cooperation of Turkey and about one hundred and seventy five thousand people are travelling by metro buses every day. He said that he has no words to describe Pak-Turk friendship as both the countries have strong brotherly relations. He said that the modern cleanliness system launched with the cooperation of Turkey in Lahore is continuing successfully and now its scope is being expanded to other big cities of Punjab.
He said that the Punjab government is providing very conducive atmosphere to foreign investors and incentives are being provided to them on priority basis.
He said that both the sides need to make all out efforts to develop closer trade and investment ties between us practically involving all the concerned individuals.
He said that although the bilateral trade between Pakistan and Turkey has been gradually growing but it still leaves much to be desired. In the same period of time, Pak exports to Turkey have shown considerable improvement.
However, the current level of trade between Pakistan and Turkey has least relevance to the size of the markets of the two countries. In terms of GDP, Turkey ranked at 17th place is way ahead of Pakistan which is at 47th place.
The LCCI is ready to play its due role in exploring the available opportunities. Turkey imports semi finished goods from various countries in bulk for value addition and Pakistan can be the best case for that. Pakistani businessmen are capable of exporting semi finished goods to Turkey from textiles to dairy products, from fresh fruits and vegetables to precious and semi precious gems and many more.
Pakistan’s major exports to Turkey are cotton, plastics, cereals, beverages, spirits, articles of apparel, manmade staple fibres, articles of leather, raw hides and skins and etc. Whereas Pakistan’s major imports from Turkey are machinery, ships, organic chemicals, paper and paperboard, iron and steel, plastics products, tanning and dyeing extracts and etc.
Keeping in view the market potential of the two countries a lot of trade and investment can take place between the two countries. The best possible way is to identify the areas where we can cooperate. Both the sides should also consider opportunities where joint ventures can be made.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854