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“We should increase our trade volume to $1B”


Syed Umarullah HussainiWeb Editor

14th Feb, 2020. 03:27 pm
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President of Turkey

President of Turkey Recep Tayyip Erdogan We should increase our trade volume to $1B and target hitting $5B later.

President of Turkey was addressing  Pakistan-Turkey Business and Investment Forum in Islamabad on Friday.

President of Turkey said We should increase our trade volume to $1B and target hitting $5B later. We cannot achieve these targets with wishful thinking, we should take determined steps.

He thanked Pakistan for being “wonderful hosts” on his two-day trip.

Recounting his official engagements, Erdogan said that yesterday he had met President Arif Alvi and, today, also had the opportunity to address a joint session of Parliament.

“Hopefully we’ll open the door for new businesses. We wish to raise the level of Pakistan and Turkey’s business relations to the level of our political relations,” he said.

“Currently, our trade is only $8m which is not acceptable for us. Our mutual population is over three billion.

Therefore, we have to bring our trade to the level we deserve,” he maintained, adding that we cannot allow protectionism to hinder bilateral trade.

In Turkey we have 158 companies with Pakistani capital […] we would like to see more such companies. Currently, we have a model in place for offering Turkish citizenship to investors under certain conditions, he said.

“I invite my Pakistani brethren to have confidence in the Turkish economy, we are among the world’s top 20 economies,” he said.

President Erdogan on Turkish economy said Economy received direct foreign investment of $220B in 17 years – Tourism revenue shot from $8.5B to $35B – Turkish Airlines travels to 126 countries with over 300 destinations.

President Erdogan speaking on bilateral trade said– Pakistan, Turkey have competing exports but complimentary fields – Sutas to build milk processing plant in Punjab with local partner – Hayat Kimya to invest $300M more in Pakistan – Investment is international, capital has no nationality.

Earlier  addressing the parliamentary session, President Recep Tayyip Erdogan said “I thank God for giving me this opportunity. I am thankful to each of you individually for allowing me to address this joint session of Parliament,”

“I am thankful to all of you for the way in which the people of Pakistan have welcomed us. I have never felt like a stranger in Pakistan; it has always been like a home.

“Today, Pakistan and Turkey’s relations are admirable for others […]. During difficult times, Pakistan has supported Turkey.”

Quoting a poem by poet Allama Iqbal, Erdogan said: “Yes, like the poet of Lahore, people were drowning in these emotions, people of Pakistan had supported Turkey.

“We can never forget this.” “Today, the issue of Kashmir is as close to us as it is to you [Pakistanis],” he said, reiterating his support for Kashmiris.

“How can we forget those [Pakistanis] who prayed for Turkey? Our friendship is not based on vested interests but on love.

“When there were earthquakes in Turkey, they [Pakistanis] supported us. I am thankful on behalf of my country for the support of Pakistan.

“Like in the past, we will continue to support Pakistan in the future,” he vowed.

“Pakistan is on the way to peace and stability; peace and stability doesn’t come in a few days, it requires work.

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