Erdogan vows to take Pak-Turkey bilateral trade volume from $1b to $5b

bilateral trade pakistan trade volume Turkey Erdogan tayyip Erdogan pak-Turkey bilateral trade
14 Feb, 2020 5:37 pm

ISLAMABAD (92 News) – Turkish President Recep Tayyip Erdogan on Friday vowed to take Pak-Turkey bilateral trade volume to $1 billion in the first phase and eventually to US$ 5 billion later.

Addressing the Pakistan-Turkey Business Forum, the Turkish president said there is vast scope for increasing the current two way trade volume of 800 million dollars. “We want to take the commercial relations between the two brotherly countries to the same level as political ties,” he added.

Pak-turkey can collaborate in number of industries

Erdogan said the two countries can collaborate in a number of industries for their mutual benefit. “We should not allow protectionism or trade walls between us,” he said.

Turkey is one of top 20 economies of world

The Turkish President said his country is increasing investments in Pakistan. He said Turkey is one of the top twenty economies of the world. We have brought down our debt from 72 per cent of GDP to 33 per cent. Turkey increased tourists from 13 million to 68 million, resulting in increased to 35 billion dollars from 8.5 billion dollars earned from this sector,” he explained.

PM assures to fully facilitate Turkish business community

On the occasion, Prime Minister (PM) Imran Khan invited Turkish business community to invest in different sectors of Pakistan especially tourism, mining and agriculture.

The prime minister pointed out that Pakistan has a huge untapped potential in tourism including in beach and historic places. He said Pakistan can greatly benefit from the Turkish experience in the development of necessary infrastructure for the promotion of tourism.

Imran Khan said Pakistan also desires to learn from the experiences of Turkey in the fields of agriculture and mining. He assured to fully facilitate Turkish business community including their joint ventures with Pakistani companies.

“Ours is the most business friendly government. We have gained twenty places in the world ranking in ease of doing business. We have reduced regulations to facilitate the businessmen,” the premier said.

He also expressed the confidence that the business communities of both the countries will come forward to benefit from the excellent political relationship that exist between the two countries.

Razak Dawood invites Turkish investors for joint projects in Pakistan

Speaking on the occasion, Adviser on Commerce Abdul Razak Dawood invited the Turkish investors to initiate the joint projects in Pakistan. He said both the countries have immense opportunities of cooperation. He said Pakistan and Turkey enjoy excellent bilateral relations.

Abdul Razak Dawood said both the countries have agreed to promote the strategic relations between them.

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