Latest News Pakistan
ISLAMABAD: A business delegation of Busra Province of Turkey led by Turgay Yel, Inegol Deputy
Mayor visited Islamabad Chamber of Commerce and Industry (ICCI) on Saturday and exchanged
views with Pakistani counterparts for further improving bilateral trade and economic relations (Latest News Pakistan).
The delegation was representing chemicals, steel, furniture, ceramics and other sectors.
Speaking at the occasion, Turgay Yel said after coming to Pakistan, they have realized that Pakistan
offered great potential for Turkish investors and businessmen.
Moreover, he said about 500 Turkish businessmen have already visited Pakistan in recent days and more will
come to Pakistan to explore business and investment opportunities.
Furthermore, he said Turkey and Pakistan enjoyed historic cordial relations and these good relations should be
transformed into strong business partnerships between the two countries.
He further stressed that business communities of both countries have to make serious efforts to take bilateral
trade to higher levels which would benefit both nations.
He also invited ICCI delegation to visit Turkey as exchange of trade delegations was the best way to
explore business match makings and further improve two-way trade between the two brotherly countries.
He also thanked ICCI for giving Turkish delegation warm welcome and extending great hospitality.
In his welcome address, Atif Ikram Sheikh, President, ICCI, said that potential of economic cooperation between
Pakistan and Turkey has not been fully tapped as yet despite similar economic structures and efforts of entrepreneurs of both countries.
He said bilateral trade between Pakistan and Turkey had exceeded $1 billion in 2011, but it has come
down to around $600 million in 2015 which was not a healthy sign for both countries.
He also stressed that both countries should focus on diversification of trade as the current volume of trade
was confined to limited range of items.
He also said Turkey has imposed additional safeguard duties on some Pakistani products including fabrics, hand knotted carpets and others which should be revised downward to improve bilateral trade.
He further said Turkish investors should explore investment opportunities in various sectors of Pakistan’s
economy including energy, tourism, information technology, food processing, agro-based products,
dairy development, furniture, hotel industry, resorts developments and others.
He also assured that ICCI would facilitate Turkish investors in enhancing investment in Pakistan.