Home / Chambers of Commerce / Turkey being second fastest growing economy of world after China and first in European Union has a lot to offer to their Pakistani counterparts: Murat Agabay

Turkey being second fastest growing economy of world after China and first in European Union has a lot to offer to their Pakistani counterparts: Murat Agabay

Lahore, October 20, 2014 (PPI-OT): Turkey for being second fastest growing economy of the world after China and first in the European Union has a lot to offer to their Pakistani counterparts therefore they should avail the opportunity through joint ventures.

These views were expressed by the leader of 4-member Turkish delegation Murat Agabay while speaking at the Lahore Chamber of Commerce and Industry here on Monday. LCCI President Ijaz A. Mumtaz presented address of welcome while Vice President Syed Mahmood Ghaznavi also spoke on the occasion.

Former LCCI president Bashir A. Buksh who is also Chairman of Puk-Turk Business Council, EC members Waqar Ahmed Mian, Khawaja Khawar Rasheed, Raja Adeel Ashfaq, Khurram Lodhi, Tanzila Yousaf, Kamal Mahmood Amjad Mian, Rizwan Shamsi, Mian Muhammad Afzal and Sheikh Muhammad Fayyaz Ahmed were prominent amongst the others. Other members of the Turkish delegation were: Huseyin Moralioglu, Mustafa Dundar and Osman Ozen.

Head of the delegation said that Turkish businessmen were keen to initiate joint ventures with their Pakistani counterparts. He called for exchange of business delegations so that both the sides could have first hand knowledge of the available opportunities in Pakistan and Turkey. He said that both the countries have huge untapped business potential that needs to be realized by maximizing the involvement of private sectors of the two countries.

Speaking on the occasion, the LCCI President Ijaz A. Mumtaz said that the businessmen of both the countries should enhance their bilateral relations which will be beneficial for the people of both the countries. He said that textiles sector of Pakistan has traditionally been the biggest sector of the economy. Studies and surveys confirm that its contribution in total exports are almost 60% and it engages almost 38% of manufacturing labour force to acquire more than 46% share in overall manufacturing.

The LCCI President said that in the context of having won the GSP plus status, the need of technology improvement and capacity building in textile sector of Pakistan is necessary and Turkey could help Pakistan in this regard.

Ijaz A. Mumtaz said that Turkey is well positioned to take advantage of Pakistan’s economic potential and its geo-strategic location. He said that with regard to solid waste management, it is proposed that waste-to-energy solutions are gaining a lot of success in modern world.
He said that Pakistan is facing severe crisis in energy sector and it is the best way that we go far all possible options of alternative energy.

He emphasized that some kind of understanding should be developed between the private sector representatives of both the countries that will certainly provide basis to convert that into business deals.
He said that these practical steps will surely go a long way in enhancing the current level of two-way trade between Pakistan and Turkey which does not reflect the friendly relations.

LCCI President said that some analysts presume that the trade volume between Turkey and Pakistan can be increased as high as US$ 2 billion with some joint efforts made by public and private sectors of both the countries.

It will remain a presumption unless some positive and practical steps are taken. He also called for B2B meetings on regular basis in order to strengthen our business ties. Ijaz A. Mumtaz said that Turkey and Pakistan both are great attraction for tourists. Tourism should be encouraged so that people to people contact takes place.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-6368854

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