Turkish businessmen keen to form Pak-Turk joint ventures

Konya governor says trade volume can rise to new highs with little effort

LAHORE: Trade and economic relations between Turkey and Pakistan should be stronger and private sectors of the two countries could play a vital role in that regard, said Turkish Konya city, Governor Cuneyt Orhan.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the Konya governor said mutual trade volume could touch new highs with little effort. He pointed out that Turkish businessmen were keen to enter into joint ventures with their Pakistani counterparts in various fields.

“Both countries should enhance cooperation in trade, industry, and tourism,” he suggested.

Speaking on the occasion, Punjab Governor Chaudhry Muhammad Sarwar said the Governors of Muslim Countries Conference would be convened very soon where governors of all Muslim countries would be invited.

“We cannot grow until and unless we work hand in hand with the business community,” he remarked, adding that the business community was the backbone of the economy. LCCI President Irfan Iqbal Sheikh said Lahore and Konya were two historical cities and had a number of commonalities.

He pointed out that Konya had a number of industrial parks and the city had evolved into a center for manufacturing components for the auto industry, agricultural tools, plastic, paint and chemical industry, paper and packaging industry, processed food, textile, and leather industry.

“Several Special Economic Zones are also being established in Pakistan under CPEC and we would like to have industrial cooperation with Turkish businessmen in these areas,” Sheikh said.

LCCI Senior Vice President Ali Hussam Asghar said bilateral trade volume stood at $661 million, which had the potential to grow to over $1 billion. Joint ventures in pharmaceutical, furniture, surgical instrument, and various other sectors could yield good results, he suggested.

Asghar invited Turkish companies to invest in the hardware and energy sectors of Pakistan, which had great potential for foreign direct investment. “Turkish expertise in textile machinery and transfer of technology can help strengthen Pakistan’s textile sector,” he said.

Published in The Express Tribune, October 3^rd, 2019.

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