Pakistan-Turkey PTA next year

KARACHI: Pakistan and Turkey will finalise the Preferential Trade Agreement (PTA) next year to boost bilateral trade, Murat M Onart, Consul General of Turkey said on Monday.

“The signing of agreement will help in boosting trade up to $2 billion between the two countries,” he said at a meeting with members of Karachi Chamber of Commerce and Industry (KCCI).

He said that the present trade volume between the two countries was very low despite potential exist. The two countries have only $900 million worth of trade in which, Pakistan exports to Turkey were $750 million and imports were $150 million.

The consul general said that Turkey inclines towards European market because its businessmen have better opportunities in those countries instead regional markets.

On a request from KCCI that Turkey should invest in mineral rich province of Balochistan, the diplomat said that due to security concerns in the area, Turkish and other investors were shy to come to this area. “Until restoration of complete peace it is difficult to consider about investment,” he added.

He, however, said that the recent ECO chambers conference had agenda for investing in Balochistan.

He said that shipping and railway links were under consideration between the two countries.

Mian Abrar Ahmed, KCCI president highlighted trade opportunities between the two countries.

He invited Turkish entrepreneurs to visit Pakistan and arrange single country exhibition besides participating My Karachi exhibition.

November 29, 2011

Source: The News International, Pakistan