ISLAMABAD – Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Friday asked governments of Pakistan and Turkey to move fast by resolving all technical issues – under discussions for the last three years – over the implementation of the Preferential Trade Agreement (PTA) between the two countries.
Speaking during an interactive session of Pakistan–Turkey Business Council at the Federation House, FPCCI President Zakaria Usman said that the bilateral trade between Pakistan and Turkey would be further developed by the implementation of the decisions of Istanbul Forum 2014. Though the balance of trade is in favour of Pakistan but statistics show the volume of trade have been reduced to $621.5 million in 2013 as compared to $ 1.2 billion in 2011.
The meeting was also attended by Turk Consul General Murat Mustafa Onrat, Shaukat Ahmed, Amjad Rafi, Nasir Hayat Magoon, Rashid Abro and large number of prominent businessmen. The FPCCI president said that the freight train service between Istanbul, Tehran and Islamabad was not yet started. He emphasized on speedy work on both PTA and the ITI freight train service so that the regional trade can be boosted.
The Turk consul general said that the Turkish government took several measures to develop the local industry and to protect them, the government imposed counter veiling duties as safeguard measures on the import from all over the world including Pakistan especially on textile products. Due to this reason, the volume of trade reduced but it is still in favour of Pakistan.
He assured his full support in pursuing his government for early conclusion and finalization of the agreement. “Turkey is now technologically very advanced and has the sixth largest economy in Europe and 16th largest economy in the world,” he said, and announced that the technological support and collaboration can be extended to Pakistan.
In Pakistan, the first wind energy project was initiated by a Turkish company. He also said that 300 students from Pakistan were getting education in Turkish universities. They are very dedicated to their study and the management of their universities has also expressed their gratitude for these students, he said.
The meeting of the Pakistan-Turkey Joint Ministerial Commission is expected in June/July this year in which the major subject of discussion would be PTA between Pakistan and Turkey. The FPCCI also stated that Turkey has become more popular in Pakistan because of their TV dramas serials shown on various TV channel. Pakistan has also potential in TV shows and dramas which can be translated in Turkish language for showing on Turkish TV channels, he suggested. Online