FPCCI welcomes trade by road with Turkey

KARACHI: Federation of Chambers of Commerce and Industry of Pakistan (FPCCI) welcomed the operationalization of road transport and trade between Pakistan and Turkey, a statement said on Wednesday.

In a historic event, the first land transport cargo will be transported to Turkey via the Istanbul-Tehran-Islamabad (ITI) Corridor from Pakistan.

FPCCI President Mian Nasser Hyatt Maggo said road transport is one of the main obstacles to bilateral trade; and now a considerable amount of time will be saved.

The large-scale event was organized by the Joint Forum of Pakistan-Turkey Chambers of Commerce and Industry and was its fourth meeting.

The meeting saw the participation of top diplomats from both sides; the commercial, industrial and commercial leaders of the two countries and senior government officials.

Ihsan Mustafa Yurdakul, Ambassador of the Republic of Turkey to Pakistan, said that the current level of bilateral trade of around $ 1 billion can easily be increased to $ 5 billion in a few years; provided, we strengthen B2B relationships and target the right sectors and industries.

Arshad Jan Pathan, Deputy Head of Mission at the Embassy of Pakistan in Turkey, gave his full support to the mission in Turkey for realizing real trade potential between the two countries.

He also highlighted the investment opportunities available in tourism, the China-Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZs).

He also spoke about the road movement of trucks from Pakistan to Turkey during the first week of October for which the necessary facilitation for customs etc. is provided by the Pakistani mission.

Amjad Rafi, the main architect of this very successful event and co-chair of the Pakistan side of the ICC Turkey-Pakistan Forum, thanked the audience; and expressed hope that the momentum and mechanism established through the Joint Forum of Pakistani-Turkish Chambers of Commerce and Industry will continue to bear fruit in the years to come and continue to contribute to development. economy of the two countries.

Rafi pointed out that it was after a hiatus of almost a decade that the volume of bilateral trade between Pakistan and Turkey broke the psychological mark of $ 1 billion after 2011; after being reduced to $ 650 million in between.

Prof. Omer Bolat, co-chair of the Turkish side of the ITC Turkey-Pakistan Forum, said unconventional sectors are quickly becoming relevant when it comes to bilateral trade; and, this phenomenon will be added to the already growing trade volumes.

Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey, highlighted the historical and humanitarian dimension of Turkey-Pakistan relations and expressed the importance of assessing the potential of economic and trade relations.

Bilal Khan Pasha, Consul General of Pakistan in Turkey, said that despite all challenges related to Covid, trade between Pakistan and Turkey remains resilient and robust; and expressed hope that the two countries will continue to challenge the challenges ahead on the way to ever-increasing economic and trade challenges.

The two sides made detailed presentations on the tourism opportunities and potential that exist for tourism between the two countries, and on how religious, cultural, medical and economic tourism can play a decisive role in the development of tourism industries. tourism and hospitality industry in both countries.

Other notable dignitaries who attended the meeting included Aftab Ur Rehman, Managing Director of Pakistan Tourism Development Corporation (PTDC); Necip Boz, advisor to the Turkish Tourism Assembly; Abdullah Deniz, President of the Investment Board of the Republic of Turkey; Imran Khan, Board of Investment, Government of Pakistan and Shahid Ahmed Khan, Director of FS&R (Pvt) Ltd.

The session was moderated by Zubair Haider Sheikh, CEO of Lumina Consulting Services (Pvt) Ltd.

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