LCCI to take part in Istanbul Musiad fair

RECORDER REPORT

LAHORE: The Lahore Chamber of Commerce and Industry will participate in 14th MUSIAD International Fair and 16th International Business Forum Congress being held in Istanbul on October 11-14, 2012 under the patronage of Recep Tayyip Erdogan, Prime Minister of Turkey.

The understanding was reached during a 3-member MUSIAD delegation meeting with LCCI President Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Meher and Vice President Saeeda Nazar. The Turkish delegation comprising MUSIAD Chairman of Foreign Relations Commission Sevket Can Tulumen, Coordinator Foreign Relations Abdulkadir SICAKYUZ and Commercial Counsellor in Turkish Embassy Cezmi BESOGUL spent well over an hour at the LCCI and threw light on the Fair-Congress event and its importance for all the Muslim countries.

Sevket Can Tulumen said that this year slogan for the 14th MUSIAD International Fair is “Uniting Your Business with the World” and the Fair-Congress would be international meeting point of all the sectors where 5,000 overseas entrepreneurs and distinguished businessmen from 84 countries along with Ministers, heads of Chambers of Commerce and Presidents of leading businessmen Associations will be participating.

He informed the LCCI office-bearers that the International Business Forum Congress, being organised with the aim of developing intra-OIC economic relations, will focus on the main theme of “The Era of Economic and Political Progress in OIC Countries” and will include themed parallel sessions as well as country and project presentations.

Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh said that during the meetings held in Turkey last months, the LCCI and MUSIAD mutually agreed to take two-way trade to $2 billion in coming 4-5 years from existing around $1 billion mark.

“During our interaction with the business community of Turkey, various sectors like telecommunications, information technology, financial services, petrochemicals, livestock, dairy, consumer goods, food processing, pharmaceuticals, minerals, and particularly energy sectors were highlighted for Turkish investors which promise great opportunities.”

The LCCI President said that it is high time that both Pakistan and Turkey should make concerted efforts to exploit the untapped potential of OIC member states. The realization of the long standing ambition of establishing an OIC Common Market was one of the factors that motivated the LCCI to hold OIC Ambassadors conference.

Kashif Younus Meher said that Pakistan steel sector has a huge scope for Turkish steel technology as the installed capacity of steel sector in Pakistan is around 10 billion tons out of which 60 percent is in and around Lahore while 20 percent is in Karachi and as much is in Islamabad.

He said that collaboration between the two sides can create a win-win situation for both Pakistan and Turkey.