ISTANBUL, May 18: Vast opportunities exist for Turkish businessmen to have joint ventures with their Pakistani counterparts in the field of value added textiles and agro based industry to boost exports.

“It is right time to do so keeping in view the fast Liberalisation and deregulation of Pakistan economy, said President Istanbul Chamber of Commerce Murat Yalcintas while talking to the visiting Pakistani journalists at the chamber here on Thursday.

He said that Turkey enjoyed vast experience and expertise in textiles and it can add value to Pakistani textile products and boost exports.

He said that Turkish companies produced international designs in textile and under joint ventures they can utilise Pakistani labour and cotton to create competitive and quality products to compete in the international market.

Similarly, he said, in agro-based industry, Turkey can set up processing factories in Pakistan for preserving and marketing fruits and other agricultural products for export to Russia and Central Asian states.

“We want to help Pakistan in improving processing, packaging, canning and distribution of its agricultural products. This will enhance bilateral investment and boost Pakistani exports,” he observed.

Yalcintas noted that absence of a viable land route between the two countries was hindering the growth of bilateral trade. Another area, which was hindering the two-way trade, is the delay in the finalisation of Preferential Goods Agreement (PGA) between Turkey and Pakistan and both the sides must do something in this regard.

He pointed out that his chamber had sent the list of agreed items to Pakistan and was waiting for a reply.

He said that Istanbul Chamber is the 3rd largest chamber in the world and it contributes 46 per cent of Turkish revenue, while its members produce 23 per cent of the GNP.

“Pakistan is a very important country for us and we want to promote economic relations, particularly trade.” He noted that Turkey was a good market for Pakistani exporters as its per capita has increased from $3,000 to $ 5,000 this year and the economy is booming at a rate of 7.5 per cent, the second highest growth after China.—APP