Preferential Trade Agreement: Turkey, Pakistan talk of enhancing trade relations

Consensus over exchange of local products in both markets.

KARACHI:

Expansion of the Gwadar project would help penetrate the Asian markets and enhance bilateral trade among ECO member countries, said FPCCI and ECO CCI President Zakaria Usman.

During a meeting with Turkish Consul General Murat Mustafa Onrat and Turkey’s Commercial Counsellor, Usman stressed on early finalisation of the Preferential Trade Agreement (PTA) between the two countries. He suggested that items should be consented with the FPCCI so that there is no anomaly on account of selection of products.

Expressing his concern over the 18% value-added tax charged from Pakistani importers by Turkish exporters, he said the charges were unjust as it is a local tax, and the Turkish businessmen must bear it and not add it to their exportable items. He requested the two Turkish officials to look into the matter.

“Relations of Pakistan and Turkey are long lasting, time tested and brotherly, but on the trade front many Turkish products are still unknown to Pakistani people and vice versa.”

He suggested opening up display centres to showcase Turkish products in Karachi and Lahore as a joint-venture. Similarly Pakistani products should also be introduced in the Turkish market. “This would help develop people-to-people contact and strengthen brotherly ties between both countries, while giving potential trade opportunities.”

The Consul General of Turkey, in response to Usman’s earlier concern, said the tax is indeed a local tax and not levied on exportable items.

He assured that the matter will be looked into on a priority basis and invited Pakistani importers to submit their details in his office.

He appreciated the suggestion of opening display centres, adding that their commercial section will evaluate this project and get back to FPCCI.

“Turkey is now technologically very advanced and could extend support and collaboration to Pakistan particularly in the energy sector,” said the Consul.  The meeting was also attended by Senior Vice President Shaukat Ahmed and Vice Presidents Ismail Suttar, Mazhar Ali Nasir and Khurram Sayeed, Secretary General of FPCCI and ECO CCI MA Lodhi and other prominent importers and exporters.

Published in The Express Tribune, October 10^th, 2014.

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