KARACHI: Pakistan Turkey Joint Business Council (PTJBC) of The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Foreign Economic Relations Board of Turkey (DEİK) organised a joint meeting/session “Interconnected Business Series: Turkey Pakistan” at Federation House, Karachi and DEIK Head Office, Istanbul, Turkey virtually to enhance the bilateral trade and economic relations between both countries. The meeting was followed by B2B networking sessions on Food, Beverages, construction, construction material and Machinery, Medical Equipment and their Technologies to provide new avenues of bilateral trade and investment.

President of FPCCI addressed the meeting while Deputy Head of Mission, Embassy of Pakistan was present amongst other stakeholders, including Bilal Pasha, Consul General of Pakistan in Istanbul from Pakistan side and  İhsan Mustafa Yurdakul, Ambassador of  Turkey in Islamabad.

The B2B/networking session was attended by more than 135 top Pakistani and Turkish companies representing Food, Beverages, construction, construction material, medical equipment and their Technologies and Directors and members of Pakistan Turkey Joint Business Councils.

In his remarks, Nasser Maggo, President FPCCI, underlined the need to harmonise standards to reduce trade via the third country. He also 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 also underlined the need to enhance commercial ties by expanding the interaction of both nations’ traders, exchanging delegations subject to COVID improvement and holding Exhibitions, inter alia. He also highlighted the opportunities available in Pakistan’s construction industry due to the Naya Pakistan project announced by Prime Minister Imran Khan, wherein 5 million low-cost houses to be constructed. He invited Turkish investors to invest in low-cost houses construction.  

Amjad Rafi, Chairman Pakistan Turkey Joint Business Council, discussed the trade prospects between both countries and highlighted joint ventures and collaboration in tourism, IT, health, and education sectors. He showed his concern over the declining bilateral trade, mainly Pakistan’s export to Turkey due to the imposition of additional customs duties on Turkey’s textile and other products. He appreciated Both Diplomatic Missions’ presence, which shows that Governments are very keen to facilitate business. 

He also suggested creating a B2B portal of Pakistani and Turkish Companies for trade and joint ventures. He also emphasised the revival of cargo train ITI. He suggested that both DEIK (Turkey) and PTJBC (Pakistan) should propose a workable Freight and Time Schedule of both sides jointly advice their government (Ministry of Railway) Workable Freight Charges and Punctual Time Schedule as this is the interest of all Stakeholders. 

Ahmet Cengiz Özdemir, Chairperson, DEIK/Turkey-Pakistan Business Council, underlined the need to enhance trade, collaboration in the transportation corridor, and diversification of relations in various fields. He also highlighted the opportunities in energy, CPEC, housing, SMEs, tourism, transportation area for collaboration. 

Sheikh Sultan Rehman, Former Vice President FPCCI, moderated the networking session on construction, construction material and technology, Shahid Ahmed Khan Director PTJBC moderated Food, Beverages and their technologies and Dr Tasmia Abeer Billo moderated the medical equipment sector. Shahzeb Akram also attended the meeting, Sr. Vice President FPCCI, Hanif Lakhani Vice President, DHA High Officials,  Syed Masood Alam Rizvi, Secretary General and Directors and Members of Pakistan Turkey Joint Business Council.

The writer is a member of staff
The reporting desk can be reached at info@thecorrespondent.com.pk

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