Since the current level of commerce does not accurately reflect the potential of Turkiye and Pakistan, both nations are eager to increase their bilateral trade to at least $5 billion over the next two to three years.
When speaking to the business community at the Islamabad Chamber of Commerce and Industry (ICCI), Turkish Ambassador Dr. Mehmet Pacaci remarked. Likewise, the present was Nurettin Demir, Turkiye’s Commercial Counselor.
The envoy explained that as a first step, his government had given him the task of increasing bilateral trade between Turkey and Pakistan to $5 billion in three years. He also noted that both nations had the capacity to exceed this goal.
He stated that Turkiye wishes to increase collaboration with Pakistan in various areas, including trade, industry, investment, education, and health.
Moreover, the envoy urged businesspeople in both nations to get to know one another better and to work hard to develop their trade and economic ties. He pledged his embassy’s full support for such initiatives.
At the event, Turkiye’s Commercial Counselor, Nurettin Demir, provided a thorough presentation on the country’s investment potential.
Speaking at the event, Ahsan Zafar Bakhtawari, President of ICCI, noted that although Pak-Turkey bilateral trade is only about US$ 1.2 billion, both nations should encourage strong commercial ties between their private sectors to increase trade volume.
He claimed that Turkiye could invest in various industries in Pakistan, including solar energy, engineering, chemicals, housing and construction, electrical appliances, equipment, defense, irrigation, food processing, and halal meat.
He announced that from December 8 to December 11, 2022, ICCI would host the first International Housing Expo in collaboration with the Ministry of Housing & Works. He asked Turkish investors to actively participate in this major event and present their projects in Pakistan.
He added that both nations are part of ECO and D8 Economies and should take advantage of these platforms to further enhance their trade ties.
Meanwhile, Khalid Iqbal Malik Group Leader said that a strong Muslim nation with a GDP of almost US$800 billion, Turkey should concentrate on fostering trade and economic ties with Pakistan to benefit both nations more, according to Khalid Iqbal Malik, group leader.