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KARACHI: President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Mian Anjum Nisar has underlined the need of enhancement of commercial ties between Turkey and Pakistan by expanding interaction of businessmen of both nations, exchange of delegations and holding of exhibitions etc.

He also highlighted the environment after Covid-19 which has deteriorated economic activities all over the world. Addressing FPCCI and Foreign Economic Relations Board of Turkey (DEIK), that organised a joint meeting of Pakistan Turkey Joint Business Council, he highlighted the business and investment environment of Pakistan for joint ventures in CPEC projects, Export Processing Zones and Special Economic Zones.

He also indicated the comparative advantages of Pakistan and Turkey in textile, engineering, leather, agriculture, machinery and pharmaceutical etc. which can be utilised for capturing significant share in global market by formulation of joint strategy and enhancement of production.

He also emphasised on transfer of technology and skill in development of SMEs, tourism, health and education sectors. Nail Olpak, President of Foreign Economic Relations Board (DEIK) Turkey also emphasised on the localisation, capital accumulation and development of supply chain between both countries.

He said that signing of Free Trade Agreement is need of the hour for the enhancement of trade and economic relations. He also shared Turkish investment in different countries in construction and food sector. Amjad Rafi, Chairman Pakistan Turkey Joint Business Council highlighted details of the trade prospects between both countries.

He acknowledged the visit of President of Turkey Tayyib Erdogan in February 2020 and transformation of the existing relations into Strategic Economic Framework (SEF) which is a road map for deepening economic cooperation for enhancement of bilateral relations in trade, tourism, healthcare, hospitality, industry, education, housing, agriculture, aviation and banking.

He showed his concern over the declining of bilateral trade particularly Pakistan's export to Turkey due to imposition and continuously rising of advance countervailing and countervailing duties on textile and agriculture products.

He appreciated the presence of both ambassadors which shows that Government is very keen to facilitate business. Ahmet Cengiz Özdemir, Chairperson, DEIK/Turkey-Pakistan Business Council underlined the need of enhancement of trade, collaboration in transportation corridor and diversification of relations in various fields.

Ihsan Mustafa Yurdakul, Ambassador of the Republic of Turkey suggested collaboration in blue economy which is linked with maritime activities, ship building and aqua culture. Muhammed Syrus Sajjad Qazi, Ambassador of Pakistan in Ankara talked about business opportunities in textile and construction industries.

He also highlighted the losses faced by different industries in Covid-19 period. He ensured his continuous efforts and support for the enhancement of trade relations.

Copyright Business Recorder, 2020