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Karachi: Pakistan-Turkey Joint Business Council meeting held today at Federation House, Karachi under the Co-Chairmanship of Mr. Amjad Rafi from Pakistan side and Mr. Huseyin Akin from Turkish side. The meeting was attended by 12 members of Turkish delegation mainly consisting on Textile, Construction, Energy etc. while Pakistan side was represented by large number of members of Pakistan-Turkey Business Council as well as leading businessmen of Pakistan.
In his address Mr. Amjad Rafi, Co-Chairman, Pakistan-Turkey Joint Business Council briefly mentioned about the activities of PTJBC and its role in the enhancement of bilateral trade between the two countries. He mentioned that it is the need of our two countries to sign a preferential trading agreement of which discussion has already started between the two brotherly countries at the earliest.
The non-existing of direct shipping which makes the freight cost high and vogue time to 5 weeks for importing and exporting products to and fro Turkey were highlighted. The areas which have a tremendous potential between Pakistan and Turkey were informed to the visiting delegation which are textile machinery, equipments, chemicals, agriculture chemicals, and fertilizers Food and food processing, Auto spare parts Energy, Mineral resources and Mining, Textile garments.
Mr. Huseyin Akin, Co-Chairman, Turkey-Pakistan Joint Business Council said that on the investment side both Turkey and Pakistan offer tremendous opportunity as they have strategic geopolitical location and highly qualified and productive labour force.
He further stated that Turkey is an ideal investment hub for the whole region. On the other hand, Pakistan’s young and dynamic population and rapid urbanization combined with its growing GDP present tremendous opportunities for all cooperation in various industries.
He went on saying that there is still much to do in developing the economic relations between the two nations. He strongly expressed his believe that the trade volume does not reflect the real potential of two countries, and it should be significantly increased in terms of variety and volume.
He said that last year, Prime Ministers of both countries set an ambitious target for us to increase our bilateral trade volume to 2 billion USD and we are making every effort to achieve this target and even go beyond it, so that our trade relations would reflect the real potential between the two countries in terms of both variety and volume.
In 2010 Turkish trade volume was around 1 Billion USD. In 2011, we already achieved 850 million USD in the first 8 months and he assured that the trade volume will exceed 1 billion USD by the end of this year.
He informed that Turkish companies are ready to cooperate with their Pakistani counterparts in construction, energy, textiles, dairy farming and food processing industries.
Mr. Dawood Usman Jakhura, Vice President, FPCCI in his address appreciated the role of Turkish assistance to Pakistan at the time of needs like earthquake and floods. He also emphasized on the need of Joint Ventures and exchange of Trade Delegation.
Mr. Murat Onart, Consul General of Turkey mentioned in very warm words about the brotherly relations between the two countries which are historical/cultural and many other fields. He reiterated that now the time has come to convert the relations into economic terms. He appreciated the role of both the business councils.
In the technical session most of the participants from Turkey and Pakistan complained that the Safeguard duty imposed by Turkish side will badly hurt export of Pakistan textile raw materials to Turkey which presently make a win win situations for both the countries. In joint recommendation both the side agreed to:
More frequent exchange of business delegation between the two countries.
Jointly lobby with e respective Governments for early signing of PTA with meaningful products in the agreement.
To encourage businessmen from both side take part in the sectoral exhibits in Turkey and Pakistan.
Both sides emphasized the importance of enhancement of trade through ECO and Islamic CCI.
The next meeting of Joint Business Council will take place in Istanbul, Turkey in 2012.
For more information, contact:
Muhammad Raza Khan,
Chairman Coordination,
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
FPCCI, Capital Office, Islamabad,
Former President, Haripur Chamber of Commerce,
Founder President, Islamabad Chamber of Commerce.
Tel: FPCCI +92-51-2251891-3. Fax +92-51-251894
Tel: Business +92-51-4434200-5. Fax +92-514434203