Pakistani Industrialists Can Invest in Turkish Free Zones: Turkish Consul General.

The Consul General of Turkey, Cemal Sangu, has announced that Pakistani industrialists will have the opportunity to invest in Turkey’s free zones, which will facilitate their exports to the European market with tax exemptions. This initiative aims to enhance bilateral trade between the two countries. During his visit to the Korangi Association of Trade and Industry (KATI), Sangu stated that, based on the association’s recommendations, immediate visas would be issued to industrialists and KATI members. KATI is set to establish trade missions in several key sectors, providing investment opportunities and facilities under the Turkish government’s patronage to increase trade volume.

KATI President Johar Ali Qandhari, Senior Vice President Nighat Awan, Vice President Muslim Mohammadi, Standing Committee Chairman Rashid Siddiqui, Former President and Chairman Gulzar Feroze, Ehtshamuddin, Syed Farrukh Mazhar, Saleem-uz-Zaman, Secretary Commercial Trade Kausar Ahmed and Others prominent members attended the meeting.

Cemal Sangu highlighted that the current trade volume of $1.3 billion between Turkey and Pakistan could be much higher. He noted that Turkey has invested $3.5 billion in Pakistan, with Turkish companies investing $800 million since 2016 without repatriating any profits. He emphasised the need for greater awareness of high-quality products from both countries.

Currently, 40 Turkish companies operate in Pakistan. Turkey’s agreement with the European Union on machinery and advanced technology ensures that Turkish-manufactured machinery is available at competitive prices. Turkey has a significant demand for Pakistani halal meat, fruits, vegetables, livestock, seafood, leather, wheat, and basmati rice. However, a lack of awareness has prevented both countries from fully capitalising on these opportunities.

Sangu also mentioned Turkish companies’ establishment of research and development institutes in Pakistan. He noted a significant increase in Turkey’s tourism sector, which benefits Pakistani travelers, and ongoing efforts to ease visa facilitation for Pakistanis.

Turkish universities will offer scholarships to 189 Pakistani students this year, with applications open from December to February. Additionally, 12 Turkish universities plan to visit Pakistan to offer admissions, and some have expressed interest in setting up campuses there.

KATI President Johar Qandhari praised the long-standing bilateral relations between Pakistan and Turkey, which were established in 1954. He noted that the preferential trade agreement (PTA) signed in August 2022 must still meet expectations. Under the China-Pakistan Economic Corridor (CPEC), numerous opportunities exist for joint ventures and investments in various sectors, including Islamic finance, halal food, tourism, low-cost housing, infrastructure development, telecommunications, and education.

Qandhari emphasised the need for university-level partnerships to strengthen ties in education and promote research and development. He also called for an easier and more convenient visa policy from Turkey, suggesting immediate visas on KATI’s proposal.

Rashid Ahmed Siddiqui, Chairman of KATI’s Standing Committee on Diplomatic Affairs, highlighted the Turkish business community’s lack of awareness about Pakistan’s top products. He suggested that Pakistan’s tourism sector offers numerous opportunities that need effective promotion to attract Turkish tourists, which can be achieved through joint ventures.

KATI Vice President Muslim Mohammadi announced that a Pakistani trade delegation will visit Turkey in September for B2B meetings. He stressed the need for joint projects between the two countries. Other notable speakers included Gulzar Feroze, Syed Farrukh Mazhar, and Saleem-uz-Zaman.

Photo Caption: KATI President Johar Qandhari presents a shield to Turkish Consul General Cemal Sangu. Also present are Muslim Mohammadi, Gulzar Feroze, Ehtishamuddin, Salim-uz-Zaman, Maheen Salman, Zaki Sharif, Junaid Naqi, Faizan Javed, Abid Ali, and Kausar Ahmed.

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