Pakistani official wants free trade deal with Turkey

Saleem H. Mandviwalla, Pakistani State Minister for investments & chairman of Investment Board, attended a meeting held by Turkish-Pakistani Business Council under Foreign Economic Relations Board of Turkey (DEIK) in Istanbul.

Mandviwalla said that private sector could increase the investments and commerce between Turkey and Pakistan.

He stressed that good relations between the two countries could be reflected to economic relations, thus, more Turkish and Pakistani companies could work together.

Meanwhile, Turkish-Pakistani Business Council Chairman Ali Irvali said that trade volume between the two countries was 700 million USD.

Irvali listed the reasons of low trade volume as "poor relations in business worlds of the two countries", "transportation" and "difficulty in commercial procedures". He said that a free trade agreement should be signed between the two countries.

Pakistan was on the 75th rank among the countries Turkey exported products in 2009. Turkey exported products worth of 163 million USD to Pakistan, and imported 619 million USD of products from that country last year.

There are 81 Pakistani-financed companies in Turkey as of the end of 2009. These companies are working on electronic, telecommunication, machine, trade and banking sectors.

Turkey invested 17.2 million USD in Pakistan in 2008-2009 period. Turkish companies in Pakistan are working in energy, finance, infrastructure and construction sectors.


/World Bulletin/