Pak-Turkey: Free trade needed to boost bilateral relations

Turkish business delegation offers transfer of technology

KARACHI:

Pakistan and Turkey need to sign a free trade agreement (FTA) to boost existing trade ties between the two countries, a Turkish business delegation said on Monday.

“Turkish companies want to enhance business with Pakistan by holding business-to-business (B2B) meetings and seek ways to do business together,” Electrical Electronics and Services Exporters Association (EESEA) Vice President Dr Guven Uckan said at the Karachi Chamber of Commerce and Industry (KCCI).



“We want to do business by undertaking joint ventures either in your country or in our country and we are looking forward to sharing technology with Pakistan,” a statement quoted him as saying.



Uckan, who led the delegation, hoped that the FTA, which was being negotiated, would soon be inked, which would surely create a win-win situation for business communities of the two countries.

The delegation consisted of EESEA Vice President Mehmet Kavakhoglu and EESEA members of the managing board Atilla Eren and Hakan Ozturk. Commercial Attaché of the Consulate General of Turkey Murat Mustu also accompanied them.

Speaking on the occasion, Murat Mustu pointed out that it was the second delegation that came to Karachi as a team of the Jewellers Association of Turkey had visited the city last year which succeeded in building good business relations with their counterparts in Pakistan.

Commenting on the production of electrical appliances and machinery in Turkey, Mustu particularly mentioned the high-quality textile machinery, which was also being exported to the European Union.

These products were much better compared to the similar machinery being produced by China, he claimed, adding the machinery and electrical equipment could also be exported to Pakistan but customs duty rates were a bit high, which could only be reduced by signing the FTA.

KCCI President Younus Muhammad Bashir said it was heartening to note that numerous delegations representing various sectors of the Turkish economy had been visiting the KCCI from time to time to look for opportunities of enhancing trade and investment.

He pointed out that Pakistan was a major importer of electrical and electronic goods from around the world and the demand for such products was growing. “In fact, the home appliances business is thriving and key market players expect consumer demand to surge.”



Pakistan and Turkey have the trade volume well below the potential as Pakistan exported commodities worth $322.60 million and imported commodities valuing $238.45 million during 2014-15, showing a trade balance of $84.15 million in its favour.

Published in The Express Tribune, January 26^th,  2016.

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