Turkey keen to set up industrial units in Pakistan

Turkish companies have shown a keen interest in setting up industrial units in Pakistan to start production activities to meet the needs of the construction industry.

During a Turkish delegation’s visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Monday, ADO Group President Mustafa Sak said that they have seen huge potential for investment in Pakistan and they wanted to set up industrial units to meet the needs of the local construction industry. The delegation officials said that their collaboration with Pakistani counterparts would be beneficial for both Pakistan and Turkey.

Sak said that Pakistan and Turkey have worked to negotiate a preferential trading agreement, aiming to considerably increase trade and investments, especially in transport, telecommunications, manufacturing, tourism and other industries and hoped that its finalisation would further increase the volume of bilateral trade between the two countries.

Welcoming the delegation, ICCI President Sardar Yasir Ilyas Khan briefed the participants about the potential business and investment opportunities in Pakistan’s real estate and construction sector. He said that Pakistan was a big market with huge demand for housing units and commercial buildings. He said, “The current government has announced a very attractive package to boost construction activities in the country and it was the right time for foreign investors to explore Pakistan’s real estate and construction industry for JVs and investment.”

The ICCI president added that the Turkish investors should bring technology and expertise and set up industrial units in Pakistan to capitalise on the emerging investment opportunities in construction and other sectors that would also help in maximising economic growth and increasing exports of our country.

Published in The Express Tribune, November 17^th, 2020.

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