Pakistan-Turkey Bilateral Trade Set To Achieve New Milestones After Recording $1.1 Bn Last Year: FPCCI President

Umer Jamshaid Published May 16, 2022 | 09:38 PM

Pak-Turkey bilateral trade volume is set to climb to new heights as it has reclaimed the lost ground successively

KARACHI, (UrduPoint / Pakistan Point News - 16th May, 2022 ) :Pak-Turkey bilateral trade volume is set to climb to new heights as it has reclaimed the lost ground successively. It surpassed $1.1 billion over the last one year after a decade-long hiatus.

This was stated by President FPCCI, Irfan Iqbal Sheikh in a meeting with Karachi based Turkish diplomats who visited the Federation House here, said statement issued through Federation of Pakistan Chambers of Commerce and Industry on Monday. FPCCI President said the trend was pointing towards further increase in the bilateral trade volume progressively.

He apprised that the initial cargoes under the land-based shipping under TIR Convention took less than 15 days to reach Turkey, whereas sea-based cargoes took more than 40 days.

He also expressed his satisfaction that Pakistan and Turkey enjoy strong people-to-people, business-to-business and chamber-to-chamber contacts.

Sheikh noted that Strategic Economic Framework with Turkey would soon be signed and subsequently the two countries should swiftly proceed to Preferential Trade Agreement and eventually to Free Trade Agreement as these agreements would unleash the true potential of trade and economic cooperation between the two countries.

Consul General of Turkey in Karachi Cemal Sangu said the true potential for bilateral trade was much higher and Pakistan could greatly benefit from technologically advanced products of Turkey, which were as good as European or any other producer. Likewise, he expressed his desire to encourage more exports from Pakistan to Turkey.

Commercial Attach of Turkey, Eyup Yildirim said that Turkey had been investing in the technologies of future like electrical vehicles, renewable energy, avionics and drones, robotics, artificial intelligence, space technologies and advances in agriculture and, Pakistan could benefit from these industries through cooperation, trade and joint ventures.