This was announced by Kerim Dilber, who is heading a two-member Turkish delegation visiting Lahore, at the Lahore Chamber of Commerce and Industry.
“Turkey has become the 10th largest producer of steel in the world and the second largest in Europe. Between 2001 and 2010, Turkey was the third fastest growing steel producer in the world, after China and India,” Dilber said, in his briefing on the Turkish steel sector.
In 2001, steel output in Turkey was 15 million tons which rose to 29.1 million tons in 2010. “Growth has been driven by strong domestic consumption. Between 2005 and 2010, per capita crude steel consumption in Turkey has increased to 340kg and is expected to continue to grow in the medium and long term. In addition to the strong domestic demand and dynamic steel consuming industries, Turkey’s well placed geographical position also supports exports and thus production.”
Dilber said that the country has also seen considerable innovation over the past two decade, which reflects Turkey’s commitment to responding to evaluation in world steel markets. “In the first seven months of 2011, Turkey realised the biggest increase in output with 21%,” he said. During this time, global output reached 886.8 million tons, up by 8.26% in the same period in 2010.
Collaboration between the two countries’ steel sectors will create a win-win situation on three counts, said LCCI Senior Vice President Younis Meher. “It will help Pakistani businessmen gain access to European markets and enable Turkish counterparts to win Central Asian States and Afghanistan. The transfer of Turkish technology will further strengthen Pakistan’s steel sector, which is presently dominated by Indian technology.”
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First hand knowledge of what?? Pakistan dont even figure out in the list of top 50 countries in terms of producing steel. And it needs billions of dollar investment over a long period to get returns in such capital intensive projects. Who in their right mind would like to invest here, where the entire country can go bankrupt in few months. China, India, Japan and US are the top producers and consumers of steel with much better infrastructure and future growth. If I have money I would invest there. This looks to me like a poorly designed visit orchestrated from our side.