FPCCI welcomes trade through road with Turkey

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the operationalisation of road-based 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 through the Istanbul-Tehran-Islamabad (ITI) corridor from Pakistan.

FPCCI president Mian Nasser Hyatt Maggo said that the road transportation was one of the major impediments in bilateral trade; and, now significant time will be saved.

The high-profile event was organised by the Pakistan-Turkey Joint Chambers of Commerce and Industry Forum and was its fourth meeting.

The meeting witnessed the participation of top-most diplomats from both sides; business, industrial and trade leaderships of the two countries and high-ranking government functionaries.

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

Arshad Jan Pathan, deputy head of mission at the Embassy of Pakistan in Turkey, extended full support of the mission in Turkey for the realisation of true potential of trade between the two countries.

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

He also talked about the road-based truck movement from Pakistan to Turkey in the first week of October for which necessary facilitation for Customs, etc, is being provided by the Pakistan mission.

Amjad Rafi, the main architect of the highly successful event and co-chair of the Pakistani side of the Turkey-Pakistan CCI Forum, thanked the audience; and expressed the hope that the momentum and the mechanism that has been pioneered through Pakistan-Turkey Joint Chambers of Commerce and Industry Forum will continue to bear fruits in the years to come and keep contributing towards the economic development of the two countries.

Rafi highlighted that it is after a hiatus of almost a decade that the bilateral trade volume between Pakistan and Turkey has crossed the psychological mark of $1 billion after 2011; after being dropped to $650 million in between.

Prof Dr Omer Bolat, co-chair of the Turkish side of the Turkey-Pakistan CCI Forum, said that non-conventional sectors are fast becoming relevant as far as the bilateral trade is concerned; and, this phenomenon will add to the already increasing trade volumes.

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

Bilal Khan Pasha, consul general of Pakistan in Turkey, said that despite all the Covid-related challenges, trade between Pakistan and Turkey remained resilient and robust; and expressed the hope that both the countries will continue to defy the challenges coming in the way of the ever-increasing economic and commercial challenges.

Both sides gave detailed presentations on the tourism opportunities and potential that exists for the tourism between the two countries, and how religious, cultural, medical and economic tourism can be instrumental in the development of tourism and hospitality industries of the two countries.

Other notable dignitaries who attended the meeting included Aftab Ur Rehman, managing director of Pakistan Tourism Development Corporation (PTDC); Necip Boz, adviser of the Turkish Tourism Assembly; Abdullah Deniz, presidency of the Republic of Turkey Investment Office; 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, chief executive officer of Lumina Consulting Services (Pvt) Ltd.

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