President SAARC Chamber of Commerce and Industry
Iftikhar Ali Malik Tuesday said that bilateral trade between Turkey and
Pakistan could swell to $5 billion annually within comfort zone from existing
mark of $1.1 billion by fully exploiting the untapped vast potentials of
Talking to a delegation of young educated women entrepreneurs led by
Ms Rameen Kashif,recipient of best CEO award here today he said during the
last 25 years,the export of Pakistan to Turkey has been increased at an
annualised rate of only 4.01% from $148m in 1995 to $394m in 2020 which he
added now touched the figure of $1.1bn after stagnant for a decade that can be
enhanced to $5b annually.
He said the efficient land based shipping between two countries has now
improved bilateral trade which needs to be geared up in the days to come by
restoring the confidence of importers,exporters and investors.He said Turkey
has much stronger industrial base compared to Pakistan and the interests of
the Pakistani manufacturing sector especially in auto assembly and autosparts
industry needs to be guarded.
Iftikhar Ali Malik said Turkey and Pakistan both big Muslim countries
with mutual understanding can increase bilateral commercial and economic ties
fully realiseing their immense potential. He said during last visit of Turkish
President Recep Tayyip Erdogan to Pakistan ,Ankara and Karachi agreed to
formulate a declaration of an economic framework to increase bilateral trade
volume to $5 billion.He said Pakistani exporters must encash the sincere offer
by exploring hidden untapped Turkish markets.