KARACHI: Atif Ikram Sheikh, President FPCCI has underscored the need to further expand bilateral trade and economic relations, stating that the current trade volume between Pakistan and Turkiye does not truly reflect the historic brotherly ties and close diplomatic relations between the two nations.
Speaking at Pakistan-Turkey Business Council of FPCCI meeting, he highlighted the importance of strengthening institutional linkages and private sector cooperation to unlock the full potential of Pakistan-Turkey trade at FPCCI Head Office Karachi under the chairmanship of Saquib Fayyaz Maggo, Senior Vice President FPCCI.
He reaffirmed FPCCI’s commitment to facilitating greater business-to-business linkages between Pakistan and Turkey. He appreciated Turkey’s continued support in various sectors and expressed optimism that stronger economic partnerships would benefit both nations. He called upon both governments to create a more enabling environment for trade and investment through swift policy measures.
Delivering his keynote remarks, Syed Mazhar Ali Nasir, Chairman of the Council emphasized the urgent need for the early signing of a Free Trade Agreement (FTA) between Pakistan and Turkey. He noted that despite the shared membership of platforms such as OIC, D-8, and ECO, bilateral trade between the two brotherly countries remains below potential. He pointed out that bilateral trade has stagnated at under US $1 billion, with Pakistan’s share standing at approximately US $366 million in 2024.
He highlighted that Pakistan’s exports to Turkey; including textiles, denim, sports goods, surgical instruments, and rice are in high demand and can play a vital role in balancing trade. He further stressed that improvements in trade routes, banking channels, and logistics connectivity would help bilateral trade flourish and meet the expectations of the two nations’ business communities.
Cemal Sangu Consul General of Turkiye in Karachi appreciated FPCCI’s efforts in promoting bilateral trade and assured the Council of Turkey’s willingness to explore new avenues of cooperation. He reiterated that both countries have great potential to expand trade in sectors such as construction, tourism, engineering, and food processing.
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