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LCCI welcomes Turkish President’s historic visit to Pakistan

LCCI welcomes Turkish President’s historic visit to Pakistan

LAHORE: The Lahore Chamber of Commerce & Industry, while welcoming the historic visit of Turkish President Recep Tayyip Erdogan to Pakistan, has hoped that it would prove to be another milestone in further cementing the bilateral ties and cooperation between the two countries in diverse fields.

In a statement, the LCCI President Irfan Iqbal Sheikh said that the great Turkey is a time-tested friend and a very important partner of Pakistan in Economic Development and bilateral trade. Mutual relations of the both countries are based on solid foundations.  He said that the visit of Turkish President will be a great moment for whole Pakistani nation and this visit would associate Pakistan & Turkey together in strong ties of love and friendship.

The LCCI President said that Pakistan and Turkey have long historical ties and both the countries have been cooperating with each other since long for mutual benefits. He said that governments as well as the private sectors of the two countries are taking keen interest in developing close relations between Pakistan and Turkey.  Irfan Iqbal Sheikh said that Pakistan mainly exports cotton, plastic and articles, articles of apparel and clothing (knitted and non-knitted), other made up textile articles and cereals etc., to Turkey.

He said that strong Free Trade Agreement between the two countries can potentially help us in increasing the bilateral trade to USD 5 billion. In order to achieve this objective, elimination in tariffs along with the concerns regarding non-tariff barriers need to be addressed.

Irfan Iqbal Sheikh said that Pakistan is known worldwide for producing unique variety of carpets, which includes both machine made and hand knotted. Similarly auto parts manufacturers of Pakistan are producing wide variety of spare parts which can be exported to various destinations in Turkey due to their good quality and international standards.

The LCCI Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad were optimistic that the visit of Turkish President will encourage Turkish firms to invest in Pakistan. For example, the power sector, oil & gas exploration, leather industry, sports goods, auto parts are some areas which may attract Turkish investors.

They said that Turkey is well positioned to take advantage of Pakistan’s economic potential and its geo-strategic location.