KARACHI: Turkey on Wednesday expressed interest in exploring joint venture opportunities in Pakistan’s shipbuilding industry and maritime business.
hsan Mustafa Yurdakul, the Turkish ambassador suggested collaboration in the blue economy during a virtual meeting with Pakistani businessmen.
Pakistani Consul General in Istanbul Bilal Pasha, Turkish Commercial Adviser Demir Ahmet Sakin and Turkish Commercial Attache at Karachi Eyyup Yildirin made detailed presentations to highlight business and investment opportunities in the food, beverage, medical equipment and construction sectors.
The meeting was followed by a business-to-business networking session attended by more than 135 Pakistani and Turkish companies representing food, beverage, construction, construction materials, medical equipment and technology as well as directors and members of the joint Pakistani-Turkish business council.
Nasser Hyatt Maggo, president of the Federation of Pakistan Chambers of Commerce and Industry, underlined the need for harmonization of standards so that trade through third countries could be reduced. He said the strategic economic framework is a road map to deepen economic cooperation to enhance bilateral relations in the fields of trade, tourism, health, hospitality, industry, education, housing, agriculture, aviation and banking. He also underlined the need to improve commercial relations by broadening the interaction of entrepreneurs.
Amjad Rafi, chairman of the Pakistan-Turkey Joint Business Council, suggested the creation of a B2B portal for Pakistani and Turkish companies for trade, joint ventures. He also emphasized the revival of cargo trains and delivery of goods and timelines.
Ahmet Cengiz Özdemir, chairman of the Turkey-Pakistan Business Council underlined the need for increased trade, collaboration in transportation corridors and diversification of relations in various fields. He also highlighted opportunities in the fields of energy, CPEC, housing, SMEs, tourism, transportation for joint cooperation.
Arshad Jan, deputy head of mission / minister, Pakistan embassy also expressed concern over the pandemic which has reduced commercial activity and highlighted investment opportunities in Pakistan’s economic zones and SEZs. He ensures his continued efforts and support for the improvement of trade relations.
Pakistan plans to continue cargo rail services through Iran to Turkey. The route stretches for 6,540 km. About 1,950 km of track are in Turkey, 2,600 km in Iran, and another 1,990 km in Pakistan. The journey from Istanbul to Islamabad will take 10 days – much faster than 21 days by sea between Turkey and Pakistan.
The roots of the project are found in the container train service launched in 2009 under the umbrella of the Economic Cooperation Organization. ECO is a 10-member political and economic intergovernmental organization founded in 1985 by Iran, Pakistan and Turkey.