ISLAMABAD: The government of Turkiye on Tuesday expressed interest increasing bilateral trade with Pakistan to up to $5 billion, stating that both countries have the potential to increase two-way trade volume in many items.
In this regard, Commercial Counsellor Turkiye Embassy Nurettin Demir while addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) said that the MUSIAD Expo would be held in Istanbul from November 2 to 5 and urged the Pakistani business community to actively participate in it.
He recommended that Pakistani businessmen should establish and further business links with counterparts from Turkiye to explore new avenues of promoting bilateral trade between the two countries.
He said that Turkiye and Pakistan can enhance bilateral cooperation in many fields including machinery and parts, pharmaceuticals, chemicals, tourism and agriculture. He said that he can help the Pakistani business community in customs related matters for carrying out trade with Turkiye.
Demir hoped that a free trade agreement (FTA) between Turkiye and Pakistan would be finalized soon, after its ratification from the parliament of Turkiye, which he said will help in increasing trade volume between the two countries.
Speaking on the occasion, President ICCI Muhammad Shakeel Munir stressed that the frequency of the Pakistan-Tehran-Istanbul railway service should be increased for trade promotion as goods from Turkiye via third countries are reaching Pakistan in 45 days due to which importers and exporters are facing problems.
Munir said that Pakistan has plenty of marble and granite reserves as well as other natural resources that Turkiye should explore through JVs to achieve mutually beneficial outcomes.
Other officials present at the occasion urged the authorities concerned to address the language barrier issue for the promotion of bilateral trade. They said that Pakistan can export software products to Turkiye as it already exports these products to many other countries. They also highlighted IT, construction and furniture as potential sectors for joint ventures between the two countries.
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