Islamabad (TDI): Members of the DEİK Türkiye-Pakistan Business Council met virtually in a meeting arranged by the Turkish Foreign Ministry to discuss potential investment and trade prospects between Pakistan and Turkiye.
The Turkish Ambassador, İrfan Neziroğlu, presided over the meeting.
The meeting focused on expanding reciprocal trade volumes and identifying important industries for investment partnerships.
Both the parties discussed abolishing trade restrictions and creating an atmosphere that is favourable to company expansion.
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Opportunities in textiles, agriculture, energy, and technology were repeatedly highlighted throughout the meeting, with an emphasis on how they may strengthen the present trade framework.
Pakistan and Turkiye have a long history of economic and diplomatic ties.
The Lahore Metro Bus Project was also supported by the Turkish expertise, which started operations back in 2013.
Furthermore, agreements such as the 2016 Pakistan-Turkiye Free Trade Framework have also improved their partnership in recent years.
In addition to this, trade between the two countries has steadily increased, with bilateral trade volume rising up to $1.2 billion in the year 2022.
Notably, Turkish construction companies have invested heavily in Pakistan, while Pakistani textiles and medical supplies are in high demand in Turkiye.
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The meeting underscored the importance of facilitating direct business-to-business connections.
In order to encourage sector-specific investment, participants suggested setting up trade shows, online networking events, and delegations.
The ambassador was hopeful that such measures would strengthen the two nations’ strategic and cultural partnership in addition to increasing trade.
Such dialogues are expected to open new avenues for development and strengthen mutual ties as Turkiye and Pakistan continue.
