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08 February 2005
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Tuesday
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28 Zilhaj 1425
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Pakistan, Turkey to enhance trade
ISLAMABAD, Feb 7: A Turkish businessmen delegation and Islamabad Chamber of Commerce and Industry (ICCI) on Monday agreed to enhance trade and economic ties.
Forty-member Turkish trade delegation called on Tariq Sadiq, President Islamabad Chamber of Commerce and Industry (ICCI) at his office.
During the meeting the ICCI President stressed the need for enhancing bilateral economic and trade ties between Pakistan and Turkey.
At the same time they underscored that business communities in the two countries should increase interaction and consider joint venture investments in important areas of textiles, leather, food stuff, mining, mineral, construction trade and steel products for which Turkey in particular has high quality technical know-how and experience.
Sadiq explained to the visiting delegation that the two-way trade between Pakistan and Turkey in 2003-04 was within the range of $300 million, which includes Pakistan exports amounting to $219 million, and imports to &78 million, leaving a balance of trade in favour of Pakistan.
These figures, he said, do not represent the real potential existing in the two brotherly countries for boosting economic and trade ties.
Sadiq complemented the efforts of Pakistan's Counsel General in Istanbul Mohammad Riaz, who arranged the Turkish delegation visit to Pakistan and is accompanying the delegation.
He also explained the special incentives and the environment Pakistan offers to foreign investors for investment opportunities in Pakistan.
The leader of the Turkish delegation, Mr Hassan Ulu profusely thanked the various Pakistani institutions and businessmen for the warmth of friendship.
He stressed that his delegation's visit to Expo 2005 provided a remarkable and impressive opportunity to learn more about Pakistan's industrial development and the extraordinary prospects for considering joint venture investments in the field of textiles, leather and foodstuff.
The members of the Turkish delegation held one on one meetings with Pakistani businessmen at ICCI.
ICCI was invited to sponsor a delegation of businessmen to visit Turkey in the near future, to accelerate economic and trade activities between the two countries.
At the conclusion of the meeting souvenirs were exchanged between the two institutions. ICCI President then presented the Chamber's insignia to the leader of the Turkish businessmen's delegation.-APP
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