ISLAMABAD: Turkey-Pakistan Business Council (TPBC) has sought for a speedier conclusion of free trade agreement between the two countries, which would help in advancement of bilateral investments.
Also, the speedier conclusion of the FTA between Pakistan and Turkey would facilitate the flow of trade, reported an English daily.
A meeting was held between Board of Investment Chairman, Naeem Zamindar and TPBC council chairman, Atilla D. Yerlikaya on Tuesday to discuss the FTA.
He said that an extensive FTA covering services and commodity including investments would enhance economic cooperation between Pakistan and Turkey.
And Mr. Yerlikaya added mutually agreed exceptions for particular industries could be determined within the limitations of a comprehensive agreement.
Various Turkish business officers accompanying the delegation from Anadolu Group, Arcelik, Albayrak, Zorlu Holding along with other representatives from services, construction and health sector shared business plans of increasing their investment in Pakistan.
TPBC operates under the aegis of Foreign Economic Relations Board of Turkey (DEIK), a private sector institution which seeks for Turkey’s development of economic, commercial and industrial relations with foreign nations and international business communities.
He added that business communities from both countries should contribute to these negotiations which would assist in decreasing barriers to investment and bilateral trade between Pakistan and Turkey.
BOI Chairman, Mr. Zamindar apprised the Turkish delegation was promoting investment in nine Special Economic Zones under CPEC.
He shared the country was giving exemptions from taxes and custom duties for all machinery/plants imported into Pakistan and providing income tax holiday for ten years in these SEZs.
Mr. Zamindar during the meeting extended an invitation to Turkish investors to invest in all sectors of the country, especially in agriculture machinery, mining etc to enhance investment and trade relations between Pakistan and Turkey.
