Pakistani, Turkish businessmen meet in Islamabad

KARACHI / ISLAMABAD, Pakistan

Pakistani and Turkish businesspeople gathered in Islamabad on Thursday to discuss ways to enhance bilateral trade and investment.

The gathering was held at a special networking session, which was organized by Pakistan’s Commerce Ministry on the occasion of the two-day visit of Turkish President Recep Tayyip Erdogan, said a statement by the ministry.

Accompanying Erdogan in his visit, the Turkish business delegation is comprised of leading business representatives from engineering, energy, tourism, construction, defense, automotive, chemicals, information technology, and other sectors.

More than 200 prominent businessmen from Pakistani counterpart sectors, leading trade bodies, including Federation of Pakistan Chambers of Commerce and Industries, several government organizations, and Pakistan-Turkey Friendship Association attended the session.

“The objective of this initiative was to bring the businessmen from Turkey and Pakistan under one roof to explore ways to enhance trade and investment,” the statement added.

Sardar Ahmad Nawaz Sukhera, Pakistan’s Secretary Commerce, welcomed the delegates in his opening remarks and mentioned strong relations between the two countries.

Abdul Razak Dawood, Prime Minister Imran Khan’s advisor on commerce and investment, also visited the event and emphasized the importance of cooperation for enhancing bilateral trade and investment.

He also met with Turkish delegates, chambers and associations and discussed the possible ways to increase bilateral trade and investment, according to the statement.

The current trade volume between Pakistan and Turkey is $900 million. The two countries are engaged in Strategic Economic Framework (SEF) that aims to boost the bilateral trade volume.

Last year, Ankara presented its proposals on the SEF to Islamabad with an aim to enhance current bilateral trade five times.

The SEF includes some 71 actionable items -- including free trade agreement, technology transfer, capacity building, and defense cooperation.