Karachi: Senior Leadership of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), emphasized the importance of Pakistan-Turkey economic relations in a session on “Investment Horizon of Türkiye” at the 1st Palandoken Economic Forum organized by the Government of Erzurum in collaboration with the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and World Chamber Federation.
The theme of the Forum was “An Equitable Future in a Smart World: Intelligent Economic and Global Inequality”. The event was attended by prominent business leaders from Turkey, USA, Iran, Azerbaijan, Egypt, China, Indonesia, Uzbekistan, Tajikistan, Turkish Cypriot, Kazakhstan, Turkmenistan and other countries.
The FPCCI leadership highlighted the strong bilateral relations between Pakistan and Turkey, citing their membership in multilateral organizations like the Economic Cooperation Organization (ECO), Developing Eight (D-8), Asia Pacific, and Organization of Islamic Countries (OIC). They noted that Turkey is amongst the largest investors in Pakistan, with notable projects in various sectors.
The FPCCI leaders emphasized that both countries have comparative advantages, with Turkey possessing advanced technology and Pakistan having raw materials and skilled human capital. He proposed exploring opportunities for collaboration in trade, infrastructure, and energy, which can benefit both countries and enhance their economic ties.
They also highlighted the potential for collaboration in education and tourism sectors. They also noted that Pakistan’s trade by road and rail transportation under the TIR convention has reduced transportation time and cost, but faces issues due to lack of support from corresponding banks. They suggested creating a joint investment company to resolve financial and banking-related issues, enhancing connectivity and relations for joint investment.
They expressed admiration for the political and economic leadership of Turkey and the hard work, fidelity, and integrity of the Turkish people. They emphasized that both countries can benefit from each other’s strengths and work together to achieve mutual growth and prosperity. They also emphasized on the need to further strengthen the role of Islamic Chamber, ECO CCI and D-8 in the region for growth and prosperity of the region.
