Bilateral trade with Turkiye cloaks at $1.2 billion in 11 months.

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Mr Irfan Iqbal Sheikh, President of FPCCI, has expressed his optimism that Pak-Turkiye bilateral economic and trade relations are improving. In contrast, the bilateral trade with Turkiye has surpassed the psychological mark of $1 billion after a long hiatus of almost a decade. He added that it is a milestone, and we can only envisage Pakistani exports to Turkiye growing steadily from here onwards.

Notably, a high-profile and large Turkish trade delegation is visiting Pakistan; FPCCI has organised a multi-sector B2B networking session for the delegation. The B2B event attracted top traders from all sectors of both countries, and a total of 350 traders took part in the meetings – encompassing diverse industries; exploration of joint ventures; transfer of knowledge & technology; assessing the trade potential in non-conventional product segments and vistas that will be opened after the Turkish parliament passes that Trade in Goods Agreement (TGA) with Pakistan.

Addressing the official dinner in honour of the Turkish delegation hosted by FPCCI – the apex body of Pakistan – Mr Suleman Chawla, SVP FPCCI, explained that Pakistan & Turkiye have never been positioned for more robust, diverse and large-scale bilateral trade growth as they are now due to Pakistan’s accession into TIR Convention for land-based cargoes. It is a game-changer; we can turn it into a transformational milestone in the history of bilateral economic cooperation for peace & prosperity – by creating complementarities in the two economies, shared interdependencies and destinies.

Veteran business leader and Chairman of FPCCI’s Pakistan-Turkiye Joint Business Council (PTJBC) for most of the past two-and-a-half decades, apprised the audiences that FPCCI is closely working with DEIK & TOBB for business-to-business & chamber-to-chamber cooperation; and, FPCCI is striving to benefit from Turkiye’s technological advancements in industrial production, quality standards as good as any other European countries, entrepreneurial zeal and exportable goods. He added that after the visit of the delegation above of the Turkish Exporters Assembly (TIM) & Eastern Black Sea Exporters Association (DKiB), which are the full bodies of Turkish traders, this visit would result in enhanced bilateral trade & joint ventures.

Mr Ahmet Hamdi Gurdogan, head of the Turkish delegation, Supervisory Board Member of Türkiye Exporters Assembly and Vice President of the Eastern Black Sea Exporters Association, said that the delegation comprises 45 members and they are looking for local partners for industrial and trade and commercial cooperation. He also apprised that Turkiye wants to cement trade relations with Pakistan on the lines of Turkiye-Iran trade relations – making full use of geoeconomic advantages, transit trade and capitalising on land-based regional connectivity.

Mr Cemal Sangu, Consul General of Turkiye, highlighted that Pakistan has a population of 220 million and Turkey has a population of 85 million; those 305 million plus people & consumers substantiate a bilateral trade volume of at least $5 billion. He added that this milestone could be achieved in the short-short term and should not take more than 2 – 3 years to complete, and the new TGA should enable us to reach $15 billion in 5 – 10 years.

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