Turkish delegation head calls for exchange of business delegations to help both sides get first-hand knowledge of available opportunities
LCCI president says Turkey should take advantage of Pakistan’s economic potential and geo-strategic location
LAHORE: Being second fastest growing economy after China, Turkey has a lot to offer so Pakistan should avail the opportunity through joint ventures.
These views were expressed by four-member Turkish delegation leader Murat Agabay. He was speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Monday. Other members of the Turkish delegation were: Huseyin Moralioglu, Mustafa Dundar and Osman Ozen.
LCCI President Ijaz A Mumtaz presented address of welcome while Vice President Syed Mahmood Ghaznavi also spoke on the occasion. Puk-Turk Business Council Chairman Bashir A Bukhsh, EC members Waqar Ahmed Mian, Khawaja Khawar Rasheed, Raja Adeel Ashfaq, Khurram Lodhi, Tanzila Yousaf, Kamal Mahmood Amjad Mian, Rizwan Shamsi, Muhammad Afzal and Sheikh Fayyaz Ahmed were prominent among the others.
Murat Agabay said that Turkish businessmen were keen to initiate joint ventures with their Pakistani counterparts. He called for exchange of business delegations so that both the sides could have first-hand knowledge of the available opportunities in Pakistan and Turkey.
He said that both the countries have huge untapped business potential that needed to be realised by maximising the involvement of private sectors of the two countries.
Speaking on the occasion, the LCCI president said that the businessmen of both the countries should enhance their bilateral ties which would benefit the people of both the countries. He said that textiles sector of Pakistan has traditionally been the biggest sector of the economy. Studies and surveys confirm that its contribution in total exports are almost 60 percent and it engages almost 38 percent of manufacturing labour force to acquire more than 46 percent share in overall manufacturing.
The LCCI president said that in the context of having won the GSP Plus status, the need of technology improvement and capacity building in textile sector of Pakistan was necessary and Turkey could help Pakistan in this regard.
Mumtaz said that Turkey was well positioned to take advantage of Pakistan’s economic potential and its geo-strategic location. He said that with regard to solid waste management, it is proposed that waste-to-energy solutions are gaining a lot of success in modern world.
He said, “Pakistan is facing a severe energy shortage and it is the best way that we go far all possible options of alternative energy.”
He emphasised that some kind of understanding should be developed between the private sector representatives of both the countries that would certainly provide basis to convert that into business deals.
He said that these practical steps would surely go a long way in enhancing the current level of two-way trade between Pakistan and Turkey which does not reflect the friendly relations.
The LCCI president said that some analysts presumed that the trade volume between Turkey and Pakistan can be increased as high as $2 billion with some joint efforts made by public and private sectors of both the countries.
“It will remain a presumption unless some positive and practical steps are taken. B2B meetings should be held on a regular basis to strengthen our business ties.”
Mumtaz said tourism should be encouraged as both countries were a great attraction for tourists.
