Pakistan, Turkey can push trade to $5b | The Express Tribune


Saarc Chamber of Commerce and Industry President Iftikhar Ali Malik on Tuesday highlighted the significance of Prime Minister Shehbaz Sharif’s visit to Turkey, saying it would further cement bilateral ties between the two countries.

Iftikhar said that the existing annual bilateral trade worth $1.1 billion between Pakistan and Turkey could be taken up to $5 billion by exploiting the true potential by both sides.

Talking to a delegation of young women entrepreneurs, led by Rameen Kashif, he pointed out during the last 25 years, the annual exports of Pakistan to Turkey increased only 4.01% from $148 million in 1995 to $394 million in 2020.

The Saarc chamber president said that Turkey had a much stronger industrial base as compared to Pakistan and emphasised the need to protect the interests of Pakistani manufacturing sector, especially the auto assembly and auto parts industries.

Malik cited that during the last visit of Turkish President Recep Tayyip Erdogan to Pakistan, Ankara and Islamabad agreed to draw up a declaration of economic framework to increase bilateral trade to $5 billion.

“Pakistani exporters must cash in on the sincere offers made for them in the Turkish market,” he stressed.

Delegation head Rameen Kashif hoped that PM Sharif would bring more Turkish investors to Pakistan to inject capital into the Special Economic Zones.

Published in The Express Tribune, June 1st, 2022.

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