LAHORE: Preferential Trade Agreement (PTA) between Pakistan and Turkey is all set to be signed early next year as the list of goods in this regard is being finalised, stated Turkish Ambassador Hizlan Babur.
While speaking at the Lahore Chamber of Commerce and Industry (LCCI), the ambassador said that the PTA would help achieve $2 billion target of two-way trade set by the Turkish prime minister.
Babur said that to give further boost to existing trade volume, a feasibility has been completed to run a train service between Lahore and Ankra, while a number of other agreements have also been concluded that would benefit the two sides.
Turkish businessmen are ready to initiate joint ventures with their Pakistani counterparts as they are convinced that ample opportunities lie in a number of sectors including construction and energy, he said.
Babur said that Turkey, being the second fastest growing economy of the world after China and first in the European Union, has a lot to offer to their Pakistani counterparts, which should be availed by them.
He called for exchange of business delegations so that both the sides could have firsthand knowledge of the available opportunities in Pakistan and Turkey.
He said that both the countries have marvelous untapped business potential that needs to be realised by maximising the involvement of private sectors of the two countries.
Speaking on the occasion, LCCI President Irfan Qaiser Sheikh said that both the sides need to make all out efforts to develop closer trade and investment ties.
He said that although bilateral trade between Pakistan and Turkey has been gradually growing, it still leaves much to be desired.
Published in The Express Tribune, December 14th, 2011.
COMMENTS (11)
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@khalis
Agreed. India is considered one of the major economies because of its size and potential.
@Syed: sir highest been of azerbaijan with 25% increase in gdp, but again these nations are too small to be considered means absolute no wise. china, usa, japan and India are considered because of sheer size of economy.
@khalis
Turkey's GDP growth last year was slightly higher than India's. That being said, unlike Indian economy, Turkish economy is very volatile. Just two years back Turkey was in negative GDP growth while India's growth has been consistent.
Contract for every project that Pakistan cannot do on its own should be given to Turkish companies, if they are positioned to handle it, in preference to being given to companies from other countries. This will help Pakistan escape from the clutches of ECNOMIC colonialism as well as help Turkey avoid recidivism. . I wish the Paki military could be persuaded to follow the example of the Turkish military. From being an organization stifling Turkish CIVIL POWER, it has now become a pillar of strength to the Turkish State. Let us hope, the Mafia Gang called Pakistan Army, MGcPA, is swayed to take the same route.
the author called turkey second fastest growing economy after china. its India not turkey. do pakistani minsters gets filtered and doctored reports from their secretaries? my point is as per international reports
Hope this news will further strengthen trade ties between Pakistan and Turkey
@Faraz: we want to sign this deal this year
ALLAH bless Pakistan & Turkey.. Pak-Turk friendship Zindabaad!!
Funny that the current two-way trade volume between Turkey and Pakistan is a meagre $700 million.
God bless Turkey