Turkey-Pakistan trade deal seen next year
Article | December 11, 2011 – 1:50pm
Turkey and Pakistan will finalise the Preferential Trade Agreement (PTA) next year to boost bilateral trade, Murat M. Onart, Consul General Republic of Turkey, said at a meeting with members of Karachi Chamber of Commerce and Industry (KCCI), Zaman reported.
The consul general said that the signing of agreement will help in boosting trade up to $2 billion between the two countries. Although both countries have potential but it was noted that trade volume was very low.
The two countries have only $900 million worth of trade in which, Pakistan exports to Turkey were $750 million and imports were $150 million. The consul general said that Turkey inclines towards European market because its businessmen have better opportunities in those countries compared to regional markets. He also called on to improve construction sector. In this regard he said that that political support must be involved and government-to-government link is necessary to invest in this sector.
On a request from KCCI that Turkey should invest in mineral rich province of Balochistan, the diplomat said that due to security concerns in the area, Turkish and other investors were shy to come to this area. “Until restoration of complete peace it is difficult to consider about investment,” he added. He, however, said that the recent ECO chambers conference had agenda for investing in Balochistan.
He said Turkey would like to foster the trade, as it is a confidence building measure between countries. Various sectors for investment were outlined during the meeting. Shipping and railway links were also being considered between the two countries.
via Turkey-Pakistan trade deal seen next year | New Europe.
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