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Turkey to sign PTA with Pakistan

Daily Times, Pakistan

Turkey to sign PTA

16 April 2005

KARACHI: Turkey will prefer signing a Preferential Trade Agreement (PTA) with Pakistan Recept Demir, commercial counsellor, embassy of Turkey said during a meeting with the members of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) on Friday.

Vice president (FPCCI) Akbar Abdullah, Amjad Rafi, chairman and members of Pakistan-Turkey Business Council of FPCCI were present. Mr Demir said, in this connection lists had been exchanged between the two governments and the PTA might be signed soon.

He said the Textile Machinery Producers Association was organising workshop on 17th April in a local hotel here for introducing Turkish textile machinery. The Association’s representatives will also visit Faisalabad and Lahore in this regard, he added.

He said the absence of direct air, sea and road transportation links between Pakistan and Turkey was resulting in low volume of trade between them. Another problem was that there was lack of communication and exchange of information between the business communities of the two brotherly Muslim countries. The Turkish businessmen were not well conversant with English language, which created problem of communication, he added.

Akbar Abdullah called for concerted efforts by both Pakistan and Turkey to increase bilateral trade, which was very low presently. He said there was big potential to promote bilateral economic relations through investment and establishment of joint ventures in fields like light commercial vehicles, automotives, auto parts, light engineering, telecommunication, tourism, information technology, corporate farming, pharmaceuticals etc.

Sheikh Javaid, chairman, FPCCI standing committee on Export Processing and Free Zones said the export processing zones in Pakistan offered attractive incentives to investors.