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Turkish companies to explore Pakistan for investment opportunities September 19, 2015
Meeting at ICCI
 
Turkey considers Pakistan an important country and many Turkish companies have shown interest to visit Pakistan to explore opportunities of business collaboration, joint ventures and investment, observed Mr. Ferhat KAVAKLI, newly appointed Commercial Counsellor of Turkey to Pakistan during his visit to Islamabad Chamber of Commerce and Industry.
 
He said Turkey was already cooperating with Pakistan in waste management, transportation and education sectors while there were good prospects for mutual collaboration, especially in food and other sectors between the two countries. He said after the elections in Turkey in November this year, many Turkish companies were interested to enhance their presence in Pakistan. He assured that Commercial Council of Turkish Embassy in Pakistan would play its role in promoting connectivity between the private sectors of Pakistan and Turkey to explore new avenues of bilateral cooperation.
 
In his welcome address, Muzzail Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that Pakistan and Turkey enjoyed good historic relations, however, bilateral trade of less than US$ 1 billion was far less than the real potential of both countries. 
 
He said Turkey has imposed high tariffs on Pakistani fabrics and carpets along with strict safeguard measures due to which Pakistani exporters were facing problems in promoting exports to Turkey. He said Turkey should revise high duties on Pakistani products that will help in promoting bilateral trade. 
 
He said during the visit of Prime Minister of Turkey Mr. Ahmet Davutoglu to Pakistan in February this year, both sides had agreed to sign a free trade agreement to take bilateral trade up to US$ 10 billion in coming years, which were encouraging signs. However, he stressed that both governments should take practical steps to materialize these targets.
 
He said frequent exchange of trade delegations and organizing single country exhibitions were the way forward to tap all untapped areas of mutual cooperation between Pakistan and Turkey.  He assured that ICCI would fully cooperate with Turkish Embassy to develop strong business linkages between the entrepreneurs of both countries. M. Shakeel Munir, Senior Vice President and M. Ashfaq H. Chatha Vice President ICCI highlighted the potential of cooperation in marble and construction sectors between the two countries.