According to the MoU, the two organisations will work jointly for economic development of Pakistan and Turkey by facilitating each other’s members. ILLUSTRATION: JAMAL KHURSHID
LAHORE: The Lahore Chamber of Commerce and Industry and the Pak-Turk Businessmen Association have inked a memorandum of understanding to pave the way for bringing more Turkish investment, promote joint ventures and deepen business-to-business relations.
LCCI President Farooq Iftikhar and PTBA Chairman Sahir Rasheed signed the understanding, says a press release issued on Friday.
According to the MoU, the two organisations will work jointly for economic development of Pakistan and Turkey by facilitating each other’s members. They will also undertake joint initiatives to achieve common objectives and greater efficiency.
The LCCI and PTBA will share their vision and expertise for formulating policies, economic studies, sector-specific reports, project reports, promotional efforts and identification of prospective investors and traders.
The PTBA has agreed to provide all facilitation services to the LCCI for stepping up trade and economic activities. It will also assist LCCI members in Turkey as well as around the world.
The PTBA will also make efforts for promotion of trade and investment in Punjab. Both organisations will exchange trade-related information.
Speaking on the occasion, LCCI President Farooq Iftikhar said the MoU would go a long way towards bringing the two sides closer to each other.
He said Turkish investment in the Metro Bus project in Lahore had not only provided people with a state-of-the-art public transport system, but also boosted economic activities.
He asked Pakistani and Turkish businessmen to initiate joint ventures in all sectors of the economy and cited livestock and dairy as those areas of Pakistan that could meet the needs of Turkish market.
He underlined the need for exchange of trade delegations and holding single-country exhibitions on a reciprocal basis, which would increase the volume of bilateral trade.
Published in The Express Tribune, September 7th, 2013.
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NS loves turkey..so does Pakistanis
We should have strong ties with Turkey and Iran! That should be our top priority (economically, I mean.)