Shehbaz Sharif emphasizes need to transform exemplary Pakistan-Turkey fraternal ties into a vibrant economic relationship
ANKARA, June 01 (SABAH): Prime Minister Mian Muhammad Shehbaz Sharif held a meeting with Turkish-Pakistan Business Council (TPBC) under the auspices of Foreign Economic Relations Board of Turkey (DEIK). Leading businessmen and investors from Turkey and Pakistan participated in the meeting.
President DEIK Nail Olpak and Chair Turkish-Pakistan Business Council Ahmet Cengiz Özdemir introduced the participating companies and briefed the Prime Minister about Turkish investments in Pakistan.
In his remarks, Prime Minister Shehbaz Sharif emphasized the need to transform the exemplary Pakistan-Turkey fraternal ties into a vibrant economic relationship. He highlighted that with a strong and large consumer market and an ever-expanding middle class, Pakistan offered numerous investment opportunities promising significant returns for investors.
The Prime Minister invited Turkish companies to invest in Pakistan’s agriculture, industrial and information technology sectors as well as connectivity projects in Pakistan assuring them of complete facilitation and a conducive business environment.
The Prime Minister also held separate meetings with select leading Turkish companies who had invested in Pakistan, including Siyahkalem, Arcelik, Zorlu, Hayat Kimiya, and Ozpak-Al-Bayrak. The Prime Minister invited them to benefit from investment friendly environment and consider expanding their operations.
The Turkish companies briefed the Prime Minister on their existing and future plans of investment and thanked the Prime Minister for facilitating their operations in Pakistan.
The Turkish-Pakistan Business Council operates under DEIK and facilitates in exploration of business opportunities for Turkish and Pakistani companies.
Meanwhile Minister of Trade of Turkey Dr. Mehmet Muş called on Prime Minister Muhammad Shehbaz Sharif on Wednesday in Ankara.
During the meeting, the Prime Minister underscored the importance of deepening economic engagement and realizing the true potential of business, trade and investment between Pakistan and Turkey. He noted that his visit to Turkey included engagement with the Turkish business community in order to focus on strengthening trade and investment relations.
Underlining the need to increase bilateral trade, Prime Minister Muhammad Shehbaz Sharif highlighted the importance of early finalization of Trade in Goods Agreement, which would open up new opportunities to boost bilateral trade across various sectors to the benefit of both economies and countries.
The Prime Minister also noted that the connectivity projects between Pakistan and Turkey, in particular Islamabad-Tehran-Istanbul (ITI) Cargo Train, would provide additional avenues for the traders on both sides to conduct business efficiently and expeditiously. He underlined that the business community from both sides must expand their networking and explore new opportunities for joint ventures.
It was agreed to constitute a Joint Task Force under the coordination of Turkish Ministry of Trade and Ministry of Commerce Pakistan to develop a comprehensive road map covering the issues connected to bilateral trade, including logistics, banking, customs and agriculture.
Turkish Minister for Trade Dr. Mehmet Muş concurred with the Prime Minister on realizing true potential of the trade between the two countries and assured of full cooperation in this regard.