The Karachi Chamber of Commerce and Industry (KCCI) and Iziad Businessmen Association Izmir (IBAI) Turkey on Tuesday signed Memorandum of Understanding (MOU) for mutual co-operation and collaboration. President, KCCI, Mian Abrar Ahmad, and Chairman, IBAI Turkey, Resul Secilmis, have signed the MOU on behalf of their respective organisation.
Salient feature of the MoU are: Both the parties have agreed to play their facilitation role for mutual co-operation in respect of encouraging bilateral trade activities, exchange of trade delegations, participation in trade fairs and exhibitions.
1. Both parties shall establish effective co-operation and the exchange of information on bilateral trade and relationship, refer trade queries, inquiries, disputes of their members to each other for needful action and follow-up. Both parties shall appoint permanent staff to serve as focal point for exchange of the MOU.
2. Both parties, with mutual understanding and contact, shall jointly organize/hold conferences, meetings, seminars, workshops, presentations for their members to strengthen bilateral commerce and explore new trade opportunities, allow each other to post their website address, links on respective website and other publications, news, and trade bulletins.
3. Both the parties will mutually co-operation to best possible manner so that the bilateral trade can grow and flourish with required intervention and co-operation. Likewise, both parties shall carry out their respective roles and responsibilities due diligence and in a professional manner, and with due regard to applicable laws and regulations.
4. Both parties shall exchange information on the economy, trade, publications, trade regulations, industrialisation, economic legislation and business practices being enforced in their countries. Speaking on the occasion, Resul Secilmis said that the purpose of the visit was to see Pakistan market and develop business to business contact with Pakistan counterparts.
He said that Turkey was ready to import goods from Pakistan and export it after value-addition. He said that Turkey total trade was around $380 billion dollars with 200 countries in the world. Pakistan share in this trade is only 0.3 percent, he added.
He said Pakistan and Turkey have historical relations but two-way trades did not reflect the same. He invited KCCI delegation to visit Turkey and see the existing opportunities of two-way trades. President KCCI Mian Abrar Ahmed said that efforts were being made to increase trade with all countries of the world specialty with regional countries.
He said Turkey can take advantage while establishing products base in Pakistan and utilising the Gwadar Port and railways link and tap the huge regional market. Pakistan and Turkey preferential trade agreement will increase the trade and investment, he added.
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