Pak-Turkey: Preferential trade deal to be signed next year

The Turkish Ambassador says that the list of goods to be traded is yet to be finalised. PHOTO: FILE

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 14^th, 2011.